FIN.ACCT-TOOLS F/DECI.MAKERS-TEXT+WILEY+
FIN.ACCT-TOOLS F/DECI.MAKERS-TEXT+WILEY+
9th Edition
ISBN: 9781119598312
Author: Kimmel
Publisher: WILEY C
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Chapter 8, Problem 8.1BE

Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.

  1. (a) Advanced $ 10,000 to an employee.
  2. (b) Received a promissory note of $34,000 for services performed.
  3. (c) Sold merchandise on account for $60,000 to a customer.
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