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Notes Payable and Notes Receivable Premium content available for purchase is identified in the left-hand Navigation Menu by the asterisk (*) which precedes the content name. Premium Content on this OLC includes:
1. Narrated Slides (Chapter Content)
2. Guided Examples (Chapter Content) After reading this chapter, you should be able to: Determine whether an instrument meets all the requirements of negotiability. Calculate the interest on a note. Determine the maturity date of a note. Record routine notes payable transactions. Record discounted notes payable transactions. Record routine notes receivable transactions. Compute the proceeds from a discounted note receivable, and record transactions related to discounting of notes receivable. Understand how to use bank drafts and trade acceptances and how to record transactions related to those instruments. Define the accounting terms new to this chapter.