one of the following statements about promissory notes is incorrect theincorrectstat 616595

Blinka Retailers accepted $50,000 of Citibank Visa credit card charges for merchandise sold on July 1. Citibank charges 4% for its credit card use. The entry to record this transaction by Blinka Retailers will include a credit to Sales Revenue of $50,000 and a debit(s) to:

Cash	$48,000
Service Charge Expense	$2,000
Accounts Receivable	$48,000
Service Charge Expense	$2,000
Cash	$50,000
Accounts Receivable	$50,000

One of the following statements about promissory notes is incorrect. Theincorrectstatement is:

(a)The party making the promise to pay is called the maker.

(b)The party to whom payment is to be made is called the payee.

(c)A promissory note is not a negotiable instrument.

(d)A promissory note is often required from high-risk customers.