Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,
Question:
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) Sold merchandise on account for $64,000 to a customer.
Identify different types of receivables.
(LO 1)
(b) Received a promissory note of $57,000 for services performed.
(c)
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Related Book For
Financial Accounting
ISBN: 9780470929384
8th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather
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