Jax Recording Studio purchased $6600 in electronic components from Music World. Jax signed a 90-day, 12% promissory note for $6600. Music World's journal entry to record the sales transaction is:
A. Debit Notes Receivable $6600; credit Sales $6600
B. Debit Notes Receivable $6798; debit Interest Receivable $198; credit Sales $6600
C. Debit Accounts Receivable $6600; credit Sales $6600
D. Debit Notes Receivable $6798; credit Sales $6798
E. Debit Accounts Receivable $6798; credit Sales $6798
Answer: A
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