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Winkler Company borrows $86,000 and pledges its receivables as security. The journal entry to record this transaction would be:______

a. Debit Cash of $86,000 and credit Accounts Receivable $86,000.
b. Debit Cash of $86,000 and credit Accounts Payable $86,000.
c. Debit Note Receivable $86,000 and credit Accounts Receivable $86,000.
d. Debit Cash $86,000 and credit Notes Payable $86,000
e. Debit Accounts Receivable $86,000 and credit Notes Payable $86,000.

Respuesta :

Zviko

Answer:

a. Debit Cash of $86,000 and credit Accounts Receivable $86,000.

Explanation:

Increase the assets of cash and decrease the assets of trade receivables pledged as security as follows :

Cash  $86,000 (debit)

Trade Receivables  $86,000 (credit)

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