Write the difference between accounts receivable and notes receivable.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Write the difference between accounts receivable and notes receivable.

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Accounts Receivables:-It is the payment which the company receives from its debtors for the purchase of goods on credit These are the current assets usually less than 12 months.

Notes Receivables:-Notes receivable is the promissory note which buyer promise to pay in writing to the seller. It is a current asset for the company and appears in the balance sheet.

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