Question: 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)
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.select a type of receivables
Accounts receivable
Notes receivable
Other receivables
(b)Received a promissory note of $57,000 for services performed.select a type of receivables
Accounts receivable
Notes receivable
Other receivables
(c)Advanced $10,000 to an employee.select a type of receivables
Accounts receivable
Notes receivable
Other receivables
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