Multiple Choice
Electron borrowed $75,000 from TechCom by signing a promissory note and pledging$85,000 in accounts receivable as security. TechCom's entry to record the transaction should include a:
A) Credit to Notes Receivable for $75,000.
B) Credit to Sales for $75,000.
C) Debit Notes Payable for $75,000.
D) Debit to Accounts Receivable for $75,000.
E) Debit to Notes Receivable for $75,000.
Correct Answer:
Verified
Correct Answer:
Verified
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