Chapter 8, Problem 8.14E

Defining common receivables terms

Match the terms with their correct definition.

Terms

Definitions

1. Accounts receivable 2. Other receivables 3. Debtor 4. Notes receivable 5. Maturity date 6. Creditor

a. The party to a credit transaction who takes on an obligation/payable. b. The party who receives a receivable and will collect cash in the future. c. A written promise to pay a specified amount of money at a particular future date. d. The date when the note receivable is due. e. A miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. The right to receive cash in the future from customers for goods sold or for services performed.