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 - Self-Test Questions: 1

Answer

C : A note receivable

Work Step by Step

A note receivable requires the payment of an interest. An account receivable only requires the repayment of the amount. Trade receivables includes both accounts and notes receivables. And there is no type of receivable called a classified receivables, therefore the answer is a note receivable.
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