Understanding and Managing Notes Receivable in Financial Reporting

While accounts receivable represent amounts customers owe for goods or services provided on credit, notes receivable arise from formal agreements requiring repayment of a specific amount plus interest. The payee of a note receivable is the company or individual...

Accountancy Wikibooks, open books for an open world

Journal is the first book of original entry in which all transactions are recorded event-wise and date-wise and presents a historical record of all monetary transactions. It may further be divided into sub-journals as well which are also known subsidiary books....