Notes receivable refers to legal instrument claims for which credit has been issued as evidence of debt, such as with a promissory note. Credit instruments usually require debtors to pay interest and ...

When you extend business credit, you run the risk that some of your clients won't pay their bills. In that event, you may decide the debt is not worth the time and trouble it would take to try to ...

Calculate interest for notes using a 360-day year for accuracy. Record interest revenue as it accrues, before actual cash is received. Adjust entries for accrued interest to match revenue recognition ...