Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,
Question:
(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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Related Book For
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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