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2 years ago

A formal credit arrangement between a creditor and debtor is called a(n):_____.

Business

1 answer:

jek_recluse [69]2 years ago

3 0

The correct option is (c) note receivable

A formal credit arrangement between a creditor and debtor is called note receivable.

<h3>What receivable means?</h3>

Receivables, sometimes referred to as accounts receivable, are sums of money owing to a business by its clients for products or services that have already been provided or utilized but have not yet been paid for.

<h3>Is note receivable a debit or credit?</h3>

debit

Notes receivable typically have a debit balance. Debits increase notes receivable and credits decrease them, just like with other assets.

<h3>What type of account is notes receivable?</h3>

The value that a company is owed in promissory notes is recorded as notes receivable, which makes them an asset.

To learn more about note receivable visit:

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3 years ago

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The answer is "No Effect ".

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3 years ago

Blossom Company purchased a new machine on October 1, 2017, at a cost of $66,000. The company estimated that the machine has a s

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Answer:

Results are below.

Explanation:

Giving the following information:

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Salvage value= $5,700

Useful life= 6

F<u>irst, we need to calculate the annual depreciation using the following formula:</u>

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4 years ago

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Answer:

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