The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,

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The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.

a. Advanced $10,000 to an employee.

b. Received a promissory note of $34,000 for services performed.

c. Sold merchandise on account for $60,000 to a customer.

Record basic accounts receivable transactions.

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Survey Of Accounting

ISBN: 9781119594536

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt

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Question Posted: Dec 17, 2020 01:22 AM

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The following are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable,

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