Why do creditors prefer the debtors who sign a note receivable?what are the advantages to creditors in case of note receivable than an ordinary account receivable?
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Basically an account receivables are the receivables which the creditors have to take back without any interest rate and promissory note. It includes small collections and not the large ones like sales collections. However, for the large collections the creditor has to secure the payment and the best way is through the promissory notes. It may also have some rate of interest on it and it can give some benefit to the creditors.
answered 5 months ago
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