A company received a $1,000, 90-day, 10% note receivable. The journal entry to record receipt of the note includes a debit to Notes Receivable.

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When a company receives a note receivable, the journal entry includes a debit to Notes Receivable account, and a credit to the account or party that gave the note, such as Accounts Receivable or the customer's name. In this case, the company received a $1,000 note receivable, which means that Notes Receivable account should be debited.

A Company Received a $1,000, 90-Day, 10% Note Receivable