Question

journal entry worksheet
1 2 3
accepted a $15,000, 180 - day, 8% note from kelly white in granting a time extension on her past - due account receivable.
note: enter debits before credits.
date general journal debit credit
november 01

Explanation:

Step1: Identify accounts affected

The company accepts a note receivable and reduces the accounts - receivable.

Step2: Determine debit and credit

Debit the Note Receivable account as an asset is increasing, and credit the Accounts Receivable account as an asset is decreasing.

Answer:

Date	General Journal	Debit	Credit
	Accounts Receivable		15000