On January 1, 2017, the Notes Receivable account has a balance of $12,000. On December 31, 2017, the Notes Receivable account has a balance of $80,000. No collections on notes receivable occurred in 2017. What amount of long-term notes were made in 2017?
A)$12,000
B)$68,000
C)$80,000
D)$92,000

Question

Quizplus · Accepted Answer

The balance in the Notes Receivable account increased by $68,000 during 2017 ($80,000 - $12,000). This increase represents the amount of long-term notes that were made in 2017.

On January 1, 2017, the Notes Receivable Account Has a Balance