1. Please describe the difference between an accounts receivable and a notes receivable. 2. There are times...

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Accounting

1. Please describe the difference between an accounts receivableand a notes receivable.
2. There are times when businesses cannot collect the money thatis owed to them by their customers. When this happens, businessesincur an expense. There are two methods for recording uncollectiblereceivables. They are the allowance method and the direct write offmethod. Please explain the difference between these twomethods.
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ANSWER 1The difference between an accounts receivable and a notes receivable Notes Receivable Notes receivable does as well however this class just incorporates obligations that have a promissory note appendedObligations entered as notes receivable are normally paid back over a more extended periodNotes receivable and debt claims both appear on your accounting report as resources The off chance that your clients owe obligations that have promissory notes appended you record the obligations under notes receivable This goes on the monetary record independently from records receivable however despite everything it considers an advantage Assume your client is See Answer

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