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20 March, 14:26

A note receivable is a written promise by the maker to the payee to pay a specified amount of money at a definite time. True False

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  1. 20 March, 15:08
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    True

    Explanation:

    A Note receivable is a type of current asset that is expected to be received within a year. It is a promise to pay in a written form by the debtor to pay a specified sum of money to the creditor within a specified period of time usually a year. In a nutshell it is the written promise that specifies that money will be received at a later date.
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