TB MC Qu.5-158(Static) Suppose a customer is unable to... Suppose a customer is...
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TB MC QuStatic Suppose a customer is unable to Suppose a customer is unable to pay its account on time, so the company accepts a sixmonth interestbearing note receivable to replace the customer's account receivable. What effect will accepting the note receivable have on the company's financial statements at the time of acceptance? Multiple Choice Total revenues increase Total assets decrease No change in total assets Total assets increase 
TB MC QuStatic Suppose a customer is unable to
Suppose a customer is unable to pay its account on time, so the company accepts a sixmonth interestbearing note receivable to replace the
customer's account receivable. What effect will accepting the note receivable have on the company's financial statements at the time of
acceptance?
Multiple Choice
Total revenues increase
Total assets decrease
No change in total assets
Total assets increase
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