A Promissory Note Received from a Customer in Exchange for an Account

question 108

Multiple Choice

A promissory note received from a customer in exchange for an account receivable is recorded by the payee as:

• A)A cash equivalent.
• B)An account receivable.
• C)A note receivable.
• D)A short-term investment.
• E)A note payable.

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Definitions:

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