$12,000$7,000$300,000Correct! Like accounts receivable, short-term notes receivable are reported at cash (net) realizable value.
Short-term notes receivable are reported at their cash (net) realizable value.
Which one of these statements about promissory notes is incorrect?
collection along with its other receivables. Which of the following is the debit effect of the journal entry to record the dishonor of a note receivable if a company expects the payment to be collected?