A promissory note must always be in writing. It can never be an oral contractual promise to pay money. This is a legal as well as a customary requirement of such instruments.Select one:TrueFalse

hich of the following statement is correct? Statement 1: Promissory Notes promises to pay the money that is due.Statement 2: A promissory note may be in writing and also be an oral contractual promise to pay money.a.Only statement 1 is true.b.Only statement 2 is true.c.Both statements are false.d.Both statements are true.

promissory note and its essential

promissory notes

Below isthe general information needed to be written in a promissory note except for?a.The name of the payeeb.The amount to be paidc.The date when the promissory note was signedd.The type of obligation

The journal entry to record the issuance of a promissory note includes a credit to Note Payable for the