Asked by
nicole castro
on Nov 12, 2024Verified
Notes Receivable and Accounts Receivable can also be called trade receivables.
Notes Receivable
Claims or obligations due to a business from others, payable within a specified time period, often with interest.
Accounts Receivable
Money owed to a business by customers for products or services provided on credit.
Trade Receivables
Amounts owed to a business by its customers arising from the sale of goods or services on credit.
- Identify the differences between trade receivables and nontrade receivables.
Verified Answer
CD
Learning Objectives
- Identify the differences between trade receivables and nontrade receivables.
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