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What is the product of the following reaction?
Notes Receivable
Notes Receivable are written promises for amounts to be received by a business, indicating that another party has agreed to pay the business a specific sum of money on a certain date.
Accrued Interest
Interest on a loan or bond that has accumulated since the principal investment, or since the last payment, but has not yet been paid.
Cash
Cash refers to money in the form of bills or coins that is readily available for transactions or for meeting immediate obligations.
Allowance for Doubtful Accounts
A contra asset account used to estimate the amount of receivables that may not be collected.
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