Jasper makes a $84,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be:
a) Debit Notes Receivable for $84,000, credit Cash $84,000.
b) Debit Accounts Receivable $84,000, credit Notes Receivable $84,000.
c) Debit Cash $84,000, credit Notes Receivable for $84,000
d) Debit Notes Payable $84,000; credit Accounts Payable $84,000.
e) Debit Notes Receivable $84,000; credit Sales $84,000.
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Jasper makes a $84,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transactio...
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