Presented below are three receivable transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,

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Presented below are three receivable transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.

1. Advanced \(\$ 10,000\) to an employee.

2. Received a promissory note of \(\$ 57,000\) for services performed.

3. Sold merchandise on account for \(\$ 60,000\) to a customer.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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