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A note receivable is a negotiable instrument which can be transferred to another party by endorsement. takes the place of checks in a business firm. can only be collected by a bank. eliminates the need for a bad debts allowance.

Ross Pratt

in Business

1 answer

1 answer

Heather Maxwell on February 14, 2018

The correct answer would be the first choice. A note receivable may be transferred to another person by endorsement. It is described as a current asset of an organization that claims a written promissory note from another organization. It is usually the capital and the interest amount.

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