Please, only answer if you're sure.
Briefly explain, 10 pts to best answer!!
Thankyou!!
2007-10-26 22:50:20 · 2 answers · asked by Anonymous in Social Science ➔ Economics
Accounts receivable is amount that is owed to you from purchases customers made from you. Notes receivable is money that you loaned that is owed to you.
2007-10-27 01:03:39 · answer #1 · answered by the Boss 7 · 0⤊ 1⤋
accounts receivables arise from on-account sales. they're not evidenced by a formal note unlike notes receivables. typically, if you run a business, you would set a credit limit for each customer. they can order goods on credit up to that limit. those are accounts receivables and they don't normally bear interest although you might have 30 or 60 day terms. notes receivables have a stated maturity date or some fixed period and are always interest-bearing.
take it from me. i'm an accountant.
2007-10-27 01:23:26 · answer #2 · answered by Groggy G 3 · 0⤊ 1⤋