Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 8 - Reporting and Analyzing Receivables - Questions: 1

Answer

Accounts receivables mean that you have to pay what you borrowed, whereas with notes receivables the money has to be paid back with an interest.

Work Step by Step

Both receivables reflect the money that is owed to a firm by other people. However, accounts receivables don't require the money to be paid back with an interest, but notes receivables do.
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