Giorgio Italian Market bought $8,000 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $8,000. Food Supplier's journal entry to record the collection on the maturity date is: (Use 360 days a year.)

Answer and Explanation:

The journal entry is shown below:

Cash $8,200

      To  Notes receivable  $8,000

      To Interest revenue ($8,000 × 10% × 90 days ÷ 360 days)  $200

(being the collection of notes is recorded)

For recording this we debited the cash as it increased the asset and credited the notes receivable and interest revenue as it decreased the assets and increased the revenue

step 1: create a plan

step 2: inventory facility equipment/assets

step 3: create preventive maintenance procedures

step 4: create preventive maintenance schedules

step 5: train your maintenanceteam

step 6: analyze – adjust - improve

or

step 1 – pm procedure design: doing the effective things

step 2 – pm procedure scheduling: efficient use of people and resources

step 3 – pm lubrication engineering

step 4 – pm training: back on the chain gang

step 5 – pm program management plan

step 6 – communicate, communicate, communicate