Go over the following transactions and identify what type receivable would be increasedaccounts receivable, a...
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Accounting
Go over the following transactions and identify what type receivable would be increasedaccounts receivable, a note receivable, or other receivables? Explain why for each answer.
(1) The vice-president of manufacturing is sending his youngest child to a prestigious university and needs a loan of $25,000.
(2) A customer buys merchandise on account.
(3) A customers account receivable has been outstanding for some time and he is asked to sign a note for the amount of the balance.
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