The entry to record the issuance of a note receivable is debit Notes Receivable and credit Cash.
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What is Note Receivable ?</h3>
A note receivable is an asset account tied to an underlying promissory note, which details in writing the payment terms for a purchase between a “payee” (typically a company, and sometimes called a creditor) and the “maker” of the note (usually a customer or employee, and sometimes called a debtor).
The journal entry for interest on a note receivable is to debit the interest income account and credit the cash account.
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement.
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Choices/ The way goods and services are produced and provided to consumers, and to used by them.
Answer:
Tell the customer when you store’s next delivery day is and to come back then Issue the customer a raincheck for the item that is out of stock
Explanation:
Customer<em> retention</em> is important as well as <em>meeting their specific needs</em>. It is unwise to turn back a customer and refer them to a competitor, this may mean loss of business (currently and in the future). Also it is unwise to offer a substitute item as this will not meet their needs (though you may want to inform them of the substitute item if they are interested). Issue the customer a raincheck for the item that is out of stock is the best way to go and keep the business.
