Presented below are three receivables transactions.Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. (a)   Advanced $10,000 to an employee.   select an account title                                                           Accounts ReceivableNotes ReceivableOther Receivables           (b)   Received a promissory note of $34,000 for services performed.   select an account title                                                           Accounts ReceivableNotes ReceivableOther Receivables           (c)   Sold merchandise on account for $60,000 to a customer.

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
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Problem 8E
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Presented below are three receivables transactions.

Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet.

(a)
 
Advanced $10,000 to an employee.
  select an account title                                                           Accounts ReceivableNotes ReceivableOther Receivables
         
(b)
 
Received a promissory note of $34,000 for services performed.
  select an account title                                                           Accounts ReceivableNotes ReceivableOther Receivables
         
(c)
 
Sold merchandise on account for $60,000 to a customer.
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