nts) Which of the following is NOT a difference we discussed between accounts and notes receivable?O Notes Receivable include interest.Notes Receivable are based on sales made.O Notes Receivable are due on a specific date.O Notes Receivable require a formal contract.

Answered: nts) Which of the following is NOT a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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nts) Which of the following is NOT a difference we discussed between accounts and notes receivable?
O Notes Receivable include interest.
Notes Receivable are based on sales made.
O Notes Receivable are due on a specific date.
O Notes Receivable require a formal contract.

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Accounts receivable represents the money owed by customers,. Accounts receivable is significantly differ from notes receivable, as notes receivable is a written document guarantee by a provider to pay a specific amount of money in the future.

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