Question: BE9-1 Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.

BE9-1 Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. (a) Sold merchandise on account for $64,000 to a customer. (b) Received a promissory note of $57,000 for services performed. (c) Advanced $10,000 to an employee. BE9-2 Record the following transactions on the books of Nao Co. (a) On July 1, Nao Co. sold merchandise on account to Bustamante Inc. for $15,200, terms 2/10, n/30 (b) On July 8, Bustamante Inc. returned merchandise worth $3,800 to Nao Co. (e) On July 11, Bustamante Inc. paid for the merchandise

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