Question

250000/2060000*Regarding the two parties to a​ note, the: A. creditor has a note payable and the debtor has a note receivable. B. debtor is also called the lender. C. creditor is also called the maker of the note. D. creditor has a note receivable and the debtor has a note payable.

Answer 1

The correct answer is D. creditor has a note receivable and the debtor has a note payable.

Step-by-step explanation:

A note payable is a legal instrument by which the maker, also called the debtor, commits to pay a determined amount of money to the other party, the creditor, that has a note receivable, which is a written promise to receive the money from the issuer in the future.