CALCULATOR MESSAGE NY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Brief Exercise

Question

CALCULATOR MESSAGE NY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 8-9 1. On January 10, 2017, Sandhill Co. sold merchandise 2, On February 9, Tompkins gave Sandhill Co. a 7% promissory note in settlement of this account. on account to Tompkins for saoso, terms n 20. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods when amount is entered. Do not indent manually ) sold entries.) (Credit account titles are automatically indented No. Date Account Titles and Explanation Debit Credit T OF ACCOUNTS

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No Date Account Debit Credit 1 Jan 10 Accounts Receivable-Tompkins 8050 Sales 8050 (Being sale made, terms n/30) 2 Feb 9 7% Promissory Note Receivable 8050 Accounts Receivable-Tompkins 8050 (Accounts settled against Note)

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