A dishonored note is a note that is not paid in full at maturity. A dishonored note receivable is no longer negotiable. However, the payee still has a claim against the maker of the note. Therefore the note holder usually transfers the Notes Receivable account to an Account receivable.
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- Trade receivables
Notes receivable and accounts receivable that result from sales transactions are often called trade receivables.
- Time period assumption
Time period assumption is a convenient assumption that accountants can divide the economic life of a business into artificial time periods. The time period assumption...
- Operations costing
Operations costing is a combination of a process cost and a job order cost system in which products are manufactured primarily by standardized methods, with some customization.
- Cost-volume Profit (CVP) graph
Cost-volume Profit (CVP) graph refers to a graph that shows the relationship between costs, volume, and profits.
- Trademark /Trade names
A trademark or trade name is a word, phrase, jingle, or symbol that identifies a particular enterprise or product.
Premium is the difference between the selling price and the fact value of a bond/stock, when the bond/stock is sold for more than its face value.
- Return on investment (ROI)
The primary basis for evaluating the performance of a manager of an investment center is return on investment (ROI) which refers to a measure of management’s...