Question

Match the terms with their correct definition. Terms​: 1. Accounts receivable 2. Other receivables .3 Debtor 4. Notes receivable 5. Maturity date 6. Creditor Definitions​: a. The party to a credit transaction who takes on an​ obligation/payable. b. The party who receives a receivable and will collect cash in the future. c. A written promise to pay a specified amount of money at a particular future date. d. The date when the note receivable is due. e. A miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. The right to receive cash in the future from customers for goods sold or for services performed.

Answer 1

Answer:

Debtor - The party to a credit transaction who takes on an​ obligation/payable

Creditor - The party who receives a receivable and will collect cash in the future

Notes receivable - A written promise to pay a specified amount of money at a particular future date

Maturity date- The date when the note receivable is due

Other receivables- A miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future.

Accounts receivable-right to receive cash in the future from customers for goods sold or for services performed.

Explanation:

Accounts receivable is the balance of money expected for goods or services bought by customers but not yet paid for.

Maturity date is the date when all the principal and interest of a debt security must be repaid.

A debtor is an entity that owes another entity money.

A creditor is an entity that is being owed money by the debtor.

A note receivable is an asset which allows an entity to receive money sometimes in the future. It is a promissary note.

Other Receivables Trade include amounts for unpaid rates and charges. It also includes money expected from third parties.