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What does note receivable mean?

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note receivable
(N/R)
Noun


A receivable in the form of unconditional written promise (promissory note) to pay specified sums of money at future dates, usually with interest at a specific rate, arising from cash advances, customers’ purchases on credit, the refinancing of amounts coming due on accounts receivable, or when money is otherwise loaned.

Comment: 
Term used in US GAAP and IFRS.
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