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In which journal is the receipt of a promissory note from a customer on account recorded?
Recognized
Acknowledged or understood, often referring to income, gains, or losses for tax purposes.
Distribution
Withdrawals or payouts from investments, retirement accounts, or revenue from a business that may be taxable.
Current Cash Distribution
In investments, it refers to the actual cash distributed to investors or partners from the operations of a business, fund, or another form of investment.
Partnership Interest
An owner's share of the profits and losses, and rights and obligations, in a partnership.
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