Question: What is a primary difference between a note receivable and an account receivable? When issuing a note receivable, the company has less legal claim to

What is a primary difference between a note receivable and an account receivable? When issuing a note receivable, the company has less legal claim to assets than when issuing an account receivable. When issuing a note receivable, the company has to compute interest and determine a maturity date, but they do not have to do this for an account receivable. When issuing a note receivable, the company can expect immediate repayment, whereas they expect delayed payment with an account receivable. When issuing a note receivable, the company does not use Allowance for Doubtful Accounts as the contra account like they do for an account receivable

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