Question: x Presented below are three receivables transactions. When preparing a balance, how would these items be recorded, whether these receivables are reported as accounts receivable,
x Presented below are three receivables transactions. When preparing a balance, how would these items be recorded, whether these receivables are reported as accounts receivable, notes receivable, or other receivables. Identify different types of receivables. Marks) (4 a. Sold merchandise on account for $64,000 to a customer. b. Received a promissory note of $57,000 for services performed. c. Advanced $10,000 to an employee. d. Purchased goods from Johnson & Co. on credit $ 45,000. 7 A B I S
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