notes receivable

  

Definition

Written promises to receive stated sums of money at future dates, classified as current (if due within 12 months) or non-current (if due after 12 months) of the balance sheet date.

Use notes receivable in a sentence

  • The notes receivable were something important for me to know and my dad made sure to tell me how it all worked.

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  • Because the customer's account was overdue, we offered to convert his owings to notes receivable to allow him to pay us back over time with interest.

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  • You should always be aware of all your notes receivable so that you can figure out just how much you have earned.

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