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Suppose a customer is unable to pay its account on time, so the company accepts a six - month interest - bearing note receivable to
Suppose a customer is unable to pay its account on time, so the company accepts a sixmonth interestbearing note receivable to replace the customers account receivable. What effect will accepting the note receivable have on the companys financial statements at the time of acceptance?
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total assets increase
total assets decrease
no change in total assets
total revenues increase
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