Answer :
A note receivable is a negotiable instrument which can be transferred to another party by endorsement.
The value of promissory notes that a corporation is due and anticipates being paid for is shown as a balance sheet item called "notes receivable." The legal right to receive the amount stated on a signed promissory note belongs to the bearer, or owner, of the document. Promissory notes are written agreements that one party will pay another party money on or before a particular future date.
If the note is due within a year, it is recognized as a current asset on the balance sheet. If an asset's due date is more than a year from now, it is categorized as a non-current asset on the balance sheet.
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