For legal reasons, it is not advisable to accept a note receivable in exchange for an overdue account receivable.

Name: For legal reasons, it is not advisable to accept a note receivable in exchange for an overdue account receivable.
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Question

Quizplus · Accepted Answer

Accepting a note receivable for an overdue account receivable is a common business practice to formalize the debt and potentially extend the payment period, not typically a legal issue.

For Legal Reasons, It Is Not Advisable to Accept a Note