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Due Sunday $11/3/24)$

Question $11$ of $32$

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A note receivable is a negotiable instrument which

takes the place of checks in a business firm.

can be transferred to another party by endorsement.

can only be collected by a bank.

eliminates the need for a bad debts allowance.

A company that receives an interest$-$bearing note receivable will

debit Notes Receivable for the face value of the note.

credit Notes Receivable for the maturity value of the note.

debit Notes Receivable for the maturity value of the note.

credit Notes Receivable for the face value of the notes.