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 ...

Even if your business doesn't center around banking, it may involve a loan occasionally. Suppose you're a metal company, and a customer wants to buy tungsten now and pay later. You sell $5,000 worth ...

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 ...