Chapter-8BarryBus21

Second record the collection of the account 20 21

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Unformatted text preview: cord the collection of the account. 20 21 Notes Receivable and Interest Revenue A company reports Notes Receivable if it uses a uses promissory note to document its right to collect money from another party. Unlike accounts receivable, which do not charge interest until they've become overdue, notes receivable charge interest from the day they are created to the day they are due (their maturity date). 22 23 24 25 26 27 28 29 30 Receivables Turnover Analysis The receivables turnover ratio indicates how many times, on average, this process of selling and collecting is repeated during the period. The higher the ratio, t...
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This document was uploaded on 03/13/2014 for the course BUS 021 at UC Riverside.

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