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A note receivable is a negotiable instrument which can be transferred to another party by endorsement. takes the place of checks in a business firm. can only be collected by a bank. eliminates the need for a bad debts allowance.

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The correct answer would be the first option. A note receivable can be transferred to another party by endorsement. It is described as a current asset of an organization that  claims a written promissory note from other organization. It is usually made up of the principal and the interest amount.
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In business accounting, a note receivable is a negotiable instrument which can be transferred to another party by endorsement.

What is a note receivable?

This is an instrument of debt in a business. When one gives a person a note receivable, it means that they owe that person money for supplying goods or services.

It is negotiable and needs to be endorsed to be considered transferred to another person.

Find out more on notes receivables at https://brainly.com/question/14032135.

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