Question

A company lent $10,000 to an employee who signed a 9%, 6-month promissory note. The entry made by the company to record this loan to the employee will include a:

A) debit to Accounts Receivable for $10,000.

B) credit to Sales for $10,000.

C) debit to Notes Receivable for $10,000.

D) credit to Notes Payable for $10,000.

Answer

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