Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,

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Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.
(a) Advanced $10,000 to an employee.
(b) Received a promissory note of $34,000 for services performed.
(c) Sold merchandise on account for $60,000 to a customer.

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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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