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    LHughes's Avatar
    LHughes Posts: 1, Reputation: 1
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    Apr 2, 2007, 11:39 AM
    Notes Receivable
    What is the purpose of using a note receivable instead of simply leaving the receivable account as-is? And is this used much in today's accounting world?
    okunyah's Avatar
    okunyah Posts: 2, Reputation: 1
    New Member

    Apr 2, 2007, 05:56 PM
    Notes receivable is a written commitment from a customer to pay at a given future date. They mainly arise when.. say you decide to give credit to a new customer with no known credit history, you will use the note to make the credit more enforceable.

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