Answer and Explanation:
The journal entry at the time of receiving the note is as follows:
Note receivable Dr $11,000
To Account receivable $11,000
(Being the note receivable is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
Answer:
B. $9,600
Explanation:
Calculation to determine the amount he or she will receive
Amount Received=(1000*$10)*[100%-( 5% contingent deferred -1%Decrease in sales charge)
Amount Received=$10000-(100%-4%)
Amount Received=$10000*96%
Amount Received=$9,600
Therefore he or she will receive $9600
The answer to this question is <span>acceptability
The </span><span>acceptability characteristic refers to whether the currency is accepted as a medium of exchange for the transaction in the market.
Currency that has high rate of acceptability tend to be less volatile in the foreign exchange market and attract more investment.</span>
