Question: The Green Tree Nursing Facility possesses another note receivable in the amount of $9,000. This note will be paid in three installments: $3,000 in six
The Green Tree Nursing Facility possesses another note receivable in the amount of $9,000. This note will be paid in three installments: $3,000 in six months, $3,000 in eighteen months, and the remaining $3,000 in twenty-four months.
The accountant will record this note receivable as follows:
A. Current, or short-term asset of $9,000
B. Long term asset of $9,000
C. Current asset of $3,000 and long term asset of $6,000
D. Current asset of $6,000 and long term asset of $3,000
E. None of the above
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