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Which of the following statements about notes receivable is true? a . Notes receivable are calculated as a percentage of net sales. b . Notes

Which of the following statements about notes receivable is true?

.

Notes receivable are calculated as a percentage of net sales.

.

Notes receivable are generally classified as a long

-

term asset.

.

Notes receivable are a stronger legal claim than a normal account receivable.

.

Notes receivable are prepared by the payee.

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