This Occurs Whenever The Enterprise Purchased Goods Or Received Services On Accoun…

This Occurs Whenever The Enterprise Purchased Goods Or Received Services On Accoun…

This occurs whenever the enterprise purchased goods or received services on account issuing a promissory note to settle the account in a specified future date

Answer: NOTES PAYABLE

In accounting, Notes Payable is one of the accounts on the general ledger of almost all entities or companies. This is the title of recorded amounts of the issued promissory notes. Amounts for these notes when have not been repaid are reported as liabilities or part of it.

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1.The income statement shows which of the following?
a. Income and expenses b. Assets and liabilities c. Receipts and payments –  
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This Occurs Whenever The Enterprise Purchased Goods Or Received Services On Accoun…

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