1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lara [203]
2 years ago
12

Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is re

quired in the company's accounts
Business
1 answer:
Reika [66]2 years ago
7 0

The entry is required in the company's accounts debit cash ;Credit notes receivable and interest revenue.

If a business frequently trades in goods or services for notes, it would likely add a debit column for notes receivable to the sales book so that the general journal would not need to be used to record these transactions. It is also possible to build a separate subsidiary ledger for notes payable. A corporation should create a separate provision for bad debts account specifically for notes receivable if the quantity of notes receivable is substantial.

A note is considered to be honored when the maker pays it in accordance with the terms written down on it.

Learn more about Banking here

brainly.com/question/9608829

#SPJ10

You might be interested in
Which of the following is a potential safety hazard?
butalik [34]
Please provide a proper information to answer this question
4 0
2 years ago
Read 2 more answers
The amount of money remaining after deductions are taken out best describes which term?
telo118 [61]
The answer to this question is the term net income. A net income is the remaining money after deductions or expenses have been taken from the gross income. Net income is also known as net profit. Net income also states and calculates the total revenue that exceeds after all operational expenses and taxes been deducted.
4 0
3 years ago
What vehicle looks the same coming or going
masya89 [10]
1958 Zundapp Janus 250
7 0
3 years ago
Normally, mortgage brokers have nothing to lose by encouraging you to get a bigger loan than you may be able to afford.
jasenka [17]
The answer is true because
3 0
1 year ago
Alice is an employee of Mid-State Realty Services. She would likely be required to do which of the following?
masha68 [24]

Answer:

The correct answer is B. Attend weekly staff meetings at the office.

Explanation:

Taking into account the nature of the organization (real estate sector), where sellers are assigned a quantity X of properties, they must usually account for their weekly activities. For which it is necessary to attend meetings held in order to assess trends, achievement of objectives, etc.

7 0
3 years ago
Other questions:
  • Define a “core capability.” What are the core capabilities of Amazon, Google, and Walmart? List some new markets to which these
    7·1 answer
  • On November 10 of the current year, Flores Mills sold carpet to a customer for $8,500 with credit terms 2/10, n/30. Flores uses
    8·1 answer
  • Indicate whether each of the following cost of an automobile manufacturer would be classified as direct materials, direct labor,
    10·1 answer
  • Which of the following is NOT a requirement for using the transportation​ model? A. the capacity or supply per period at each or
    12·1 answer
  • If you could pack up and leave for vacation today wear would you go.why would you go and for how long(put it in a paragraph)
    12·1 answer
  • Family capital A. refers to financial assistance offered to families by the government. B. typically helps families obtain bette
    10·1 answer
  • working capital is defined as A. All assets available for sale after long term debt is paid off. B. The assets that the company
    11·1 answer
  • IMA GOIN BROKE FROM THESE GIVAWAYS BUT HERES MORE POINTS
    10·2 answers
  • MARKETING/BUSINESS helpppp
    14·1 answer
  • Assets are financed by creditors and owners. At 1/29/2021, approximately what percentage of Dollar General’s assets are financed
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!