For the maker,being given additional time to settle an account with issuance of a note results in a shift of:
A)assets from Notes Receivable to Accounts Receivable.
B)assets from Accounts Receivable to Notes Receivable.
C)liabilities from Notes Payable to Accounts Payable.
D)liabilities from Accounts Payable to Notes Payable.

Question

Quizplus · Accepted Answer

The Answer of For the maker,being given additional time to settle an account with issuance of a note results in a shift of:
A)assets from Notes Receivable to Accounts Receivable.
B)assets from Accounts Receivable to Notes Receivable.
C)liabilities from Notes Payable to Accounts Payable.
D)liabilities from Accounts Payable to Notes Payable.

For the Maker,being Given Additional Time to Settle an Account