A note receivable is a negotiable instrument which can be transferred to another party by endorsement. takes the place of checks

Question

garik1379 [7]

3 years ago

7

A note receivable is a negotiable instrument which can be transferred to another party by endorsement. takes the place of checks

in a business firm. can only be collected by a bank. eliminates the need for a bad debts allowance.

Business

1 answer:

AVprozaik [17] · Answer 1 · 2022-05-29T21:50:30+03:00

The correct answer would be the first option. A note receivable can be transferred to another party by endorsement. It is described as a current asset of an organization that claims a written promissory note from other organization. It is usually made up of the principal and the interest amount.