Short-Term Notes Payable Bowden Co. Buyer/Borrower) Coker Co Seller/Creditor) Description Debit Credit Description Debit Credit Mdse Inventory 10.000 Accts. Receivable 10.000 Accts Payable 10.000 Sales 10.000 Cost of Mdse Sold 7.500 Mdse Inventory 7,500 Accts Payable 10.000 Notes Receivable 10.000 Notes Payable 10.000 Accts. Receivable 10.000 May 31. Bowden Co issued a 60-day, 12% note for $10,000 to Coker Co on account. c10-4C10 - 4 Short-Term Notes Payable Description Debit Credit Mdse. Inventory 10,000 Accts. Payable 10,000 Accts. Payable 10,000 Notes Payable 10,000 Accts. Receivable 10,000 Sales 10,000 Cost of Mdse. Sold 7,500 Mdse. Inventory 7,500 Notes Receivable 10,000 Accts. Receivable 10,000 Bowden Co. (Buyer/Borrower) Coker Co. (Seller/Creditor) Description Debit Credit May 31. Bowden Co. issued a 60-day, 12% note for $10,000 to Coker Co. on account