Question

journal entry worksheet
1 2
record acceptance of a $9,500, 45 - day, 8% note in granting miranda lee a time extension on her past - due account receivable.
note: enter debits before credits.
date general journal debit credit
december 13

Explanation:

Step1: Identify accounts affected

When accepting a note for an account - receivable, the Notes Receivable account is debited and the Accounts Receivable account is credited.

Step2: Determine debit amount

The face - value of the note is $9,500. So, Notes Receivable is debited for $9,500.

Step3: Determine credit amount

The amount of the past - due accounts receivable is also $9,500. So, Accounts Receivable is credited for $9,500.

Date	General Journal	Debit	Credit
December 13	Accounts Receivable		$9,500

Answer:

Date	General Journal	Debit	Credit
December 13	Accounts Receivable		$9,500