When a note receivable is dishonored,
A. interest revenue is never recorded.
B. bad debts expense is recorded.
C. the maturity value of the note is written off.
D. accounts receivable is debited if eventual collection is expected.
Answer: D
When a note receivable is dishonored,
A. interest revenue is never recorded.
B. bad debts expense is recorded.
C. the maturity value of the note is written off.
D. accounts receivable is debited if eventual collection is expected.
Answer: D