James Borrowed $950 from Tracy

question 92

Multiple Choice

James borrowed $950 from Tracy.James promised in writing that he would repay the money to Tracy on May 13,201X.At the time of the loan,Tracy records the transaction as a(n) :

• A)Accounts Receivable.
• B)Accounts Payable.
• C)Promissory Note Receivable.
• D)Promissory Note Payable.

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Definitions:

Parallelism

Parallelism in writing is the use of similar structures in related words, clauses, or phrases to create a balance and rhythm in the composition.

Natural Gas

A fossil fuel consisting mainly of methane, used as an energy source for heating, cooking, and electricity generation, as well as a fuel for vehicles.

High Tax Rate

The proportion of income or revenue taken by the government through taxes is considered to be above average or burdensome.

Decimal System

A numerical system based on 10, particularly used in mathematics and denoting numbers using a point to separate the integer part from the fractional part.