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Homework answers / question archive / A promissory note received from a customer in exchange for an account receivable: Is a cash equivalent for the recipient Is an account receivable for the recipient Is a note receivable for the recipient Is a short-term investment for the recipient Is a note payable for the recipient    

A promissory note received from a customer in exchange for an account receivable: Is a cash equivalent for the recipient Is an account receivable for the recipient Is a note receivable for the recipient Is a short-term investment for the recipient Is a note payable for the recipient    

Finance

A promissory note received from a customer in exchange for an account receivable:

    1. Is a cash equivalent for the recipient
    2. Is an account receivable for the recipient
    3. Is a note receivable for the recipient
    4. Is a short-term investment for the recipient
    5. Is a note payable for the recipient

 

 

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Answer: C . Is a note receivable for the recipient

Note receivables are documents which shows the credit balance of the customer. It is a kind of promise which is written legally on document to receive money on a future date. Future receipts of such payment include both principle amount and interest.

 

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