[المحاسب المتميز]

Question about notes payables:

When you give a company X amount of $. It is considered notes receivables. Which is a payable that is due from the other company.

Now my question is... when I receive a portion of X amount of dollars from that company, do I debit cash and credit notes receivables?

Or do I debit cash and credit notes payables?

Dumb question, but it should be notes receivables. Just want to make sure.

Any response is greatly appreciated.

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