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Clam Factory would prefer to obtain a note from Seafood Restaurant in exchange for a major purchase rather than to record that purchase in
Clam Factory would prefer to obtain a note from Seafood Restaurant in exchange for a major purchase rather than to record that purchase in Accounts Receivable. Which of the following are reasons for Clam Factory to choose Notes Receivable? Select all answers that apply: A. The note is a stronger legal claim in a court action. B. Accounts Receivable is actually a better choice. C. A note is more liquid than an account and can be sold for money. D. There are no advantages. E. The note is in writing and the account is not.
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