Common receivables terms [10-15min]
TERMS: | DEFINITIONS: | |
1. Account receivable | A. Transaction results in a liability for this party | |
2. Promissory note | B. Transaction results in a receivable for this party | |
3. Borrower | C. The debtor promises to pay the creditor a definite sum at a future date usually with interest | |
4. Note receivable | D. Amounts to be collected from customers from sales made on credit | |
5. Maturity date | E. Serves as evidence of the indebtedness and includes the terms of the debt | |
6. Creditor | F. The date a note is due to be paid in full | |
Requirement
1. Match the terms with their correct definition.
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