In Case of a Dishonored Note the Payee's Entry Includes

question 58

Multiple Choice

In case of a dishonored note the payee's entry includes a

• A) credit to Accounts Receivable.
• B) debit to Interest Expense.
• C) debit to Notes Receivable.
• D) credit to Interest Income.

---

Definitions:

Merchantable

A legal term referring to goods that meet basic quality standards and are fit for the purpose for which goods of that kind are usually purchased.

UCC

Represents the Uniform Commercial Code, a broad series of legal provisions that regulate commercial activities across the United States.

Enacted Values

The values and norms that are actually exhibited or converted into employee behavior within an organization.

Organizational Members

Individuals who belong to and participate in the functioning of an organization, including employees, managers, and stakeholders.