If the amount due on a note receivable is not collected at maturity,
A)Allowance for Doubtful Accounts should immediately be credited.
B)Uncollectible Accounts Expense should be debited.
C)the face value of the note should continue to be carried in the Notes Receivable account until all possible means of collecting the note have been exhausted.
D)Accounts Receivable is debited for the maturity value.

Question

Quizplus · Accepted Answer

When a note receivable is not collected at maturity, the maturity value is transferred to Accounts Receivable, indicating that the amount is still due from the customer.

If the Amount Due on a Note Receivable Is Not