If the Amount Due on a Note Receivable Is Not

question 60

Multiple Choice

If the amount due on a note receivable is not collected at maturity,

• A)the note is said to be dishonored.
• B)Allowance for Doubtful Accounts should immediately be debited.
• C)the face value of the note should continue to be carried in the Notes Receivable account until all possible means of collecting the note have been exhausted.
• D)Uncollectible Accounts Expense should be debited.

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