Asked by Ogheneruno Siakpebru on May 07, 2024
Verified
Amounts owed by customers documented by a formal written instrument of credit
A) Accounts receivable turnover
B) Net realizable value
C) Accounts receivable
D) Aging the receivables
E) Receivables
F) Direct write-off method
G) Allowance for doubtful accounts
H) Bad debt expense
I) Notes receivable
Formal Written Instrument
Refers to a legal document that formally records a transaction, agreement, or legal obligation between parties.
Credit
Amount entered on the right side of an account.
Notes Receivable
Financial assets representing amounts owed to a company, usually evidenced by a formal promissory note.
- Familiarize oneself with the foundational ideas and specific language used in accounts receivable and notes receivable.
Verified Answer
DC
dayana chanocuaMay 12, 2024
Final Answer :
I
Explanation :
Notes receivable are formal written instruments of credit that represent amounts owed by customers or others to the business.
Learning Objectives
- Familiarize oneself with the foundational ideas and specific language used in accounts receivable and notes receivable.
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