asked 72.3k views
4 votes
When a note receivable is honored, cash is debited for the note's ________ value?

1 Answer

1 vote

When a note receivable is honored, cash is debited for the note's maturity value. The maturity value is the amount of money a company would receive when the note is due. The note is the amount of money that needs to be paid by the due date set. If the note is not paid by the time it is due, extra interest is added on to it as well.

Related questions

1 answer
0 votes
198k views
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.