Written promises to receive stated sums of money at future dates, classified as current (if due within 12 months) or non-current (if due after 12 months) of the balance sheet date.
Use 'notes receivable' in a Sentence
The notes receivable were something important for me to know and my dad made sure to tell me how it all worked.
Because the customer's account was overdue, we offered to convert his owings to notes receivable to allow him to pay us back over time with interest.
You should always be aware of all your notes receivable so that you can figure out just how much you have earned.
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