Question

The ____________ of the note is the one that signed the note and promised to pay at maturity. the (maker/payee) of the note is the person to whom the note is payable.

Answer 1

The (maker/signer) of the note is the one that signed the note and promised to pay at maturity. The (maker/payee) of the note is the person to whom the note is payable.

A note that the maker has neglected to settle upon maturity is referred to as a dishonored note. The note is removed from notes receivable since it has matured, and the payee or holder reports the amount owed in accounts receivable. At the note's maturity date, the maker is obligated to pay the principal and interest.

Bad debt costs. Customers with (Bad/Invalid)(Collectible/Debts) accounts fail to honor their payment obligations. It is regarded as a cost associated with selling on credit. An amount owed by another party is known as a receivable.

To learn more about maturity from the given link.

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