Solved

Match Each of the Following Terms Associated with Notes Receivable

Question 101

Matching

Match each of the following terms associated with notes receivable with the best description of that term.

Premises:
Face Amount.
Maturity Value
Notes Receivable
Maker
Term
Dishonored Note
Interest
Interest Rate.
Responses:
The time between the date a note is issued and the due date of the note.
The party promising to pay a note
The dollar amount listed on the promissory note.
A note that is not paid when it is due
The amount due when the note is paid off.
A formal written instrument that represents amounts due from customers.
The amount charged for using the money of another party.
The stated rate charged for using the money of another party

Correct Answer:

Face Amount.
Maturity Value
Notes Receivable
Maker
Term
Dishonored Note
Interest
Interest Rate.
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