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3 years ago

promissory note received from a customer in exchange for an account receivable is recorded by the payee as

Business

1 answer:

luda_lava [24]3 years ago

4 0

Answer: Note Receivable

Explanation:

A Note Receivable is a written document from a party promising to repay another party with interest on amounts borrowed in form of cash or otherwise thereby creating a debtor - creditor relationship between them.

When a promissory note is received from a customer in exchange for an accounts receivable it is a <em>Note Receivable</em> and the Payee being the creditor will record it as such.

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C. Rapid rises in price levels made the Zimbabwean dollar near worthless in terms of purchasing power.

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Hi there
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<u>Definition of terms</u>

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