Question
When a bank collects on a promissory note, they record the collection with a debit to the Notes Receivable account. True False Question 2 When
When a bank collects on a promissory note, they record the collection with a debit to the Notes Receivable account.
True
False
Question 2
When a bank lends money to a person or company through a promissory note, any interest earned by the bank will be recorded as a dividend.
True
False
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
