When a note receivable is honored Cash is debited for the note's
A) net realizable value.
B) maturity value.
C) gross realizable value.
D) face value.

Name: When a note receivable is honored Cash is debited for the note's A) net realizable value. B) maturity value. C) gross realizable value. D) face value.
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Question

Quizplus · Accepted Answer

When a note receivable is honored, Cash is debited for the note's maturity value, which includes both the principal amount (face value) and any accrued interest.

When a Note Receivable Is Honored Cash Is Debited for the Note's