Ask Question
18 October, 13:59

James borrowed $550 from Tracy. James promised in writing that he would repay the money to Tracy on May 13, 2013. At the time of the loan, Tracy recorded the transaction as a/an

+5
Answers (2)
  1. 18 October, 14:55
    0
    In that case, at the time of the loan, Tracy recorded the transaction a Notes Receivable.

    Since james has promised the loan in writing, Tracy gains a legal power to held James accountable in the future. Since Tracy the one that lend the money, that transaction is viewed as a receivable
  2. 18 October, 17:56
    0
    the answer is a accounts receivable.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “James borrowed $550 from Tracy. James promised in writing that he would repay the money to Tracy on May 13, 2013. At the time of the loan, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers