{"id":178,"date":"2024-09-06T16:47:12","date_gmt":"2024-09-06T16:47:12","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/chapter\/collecting-payments-on-notes-receivable\/"},"modified":"2024-09-11T19:03:27","modified_gmt":"2024-09-11T19:03:27","slug":"collecting-payments-on-notes-receivable","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/chapter\/collecting-payments-on-notes-receivable\/","title":{"raw":"Collecting Payments on Notes Receivable","rendered":"Collecting Payments on Notes Receivable"},"content":{"raw":"<section class=\"textbox learningGoals\" aria-label=\"Learning Goals\">\r\n<ul>\r\n \t<li>Journalize collections on notes receivable<\/li>\r\n<\/ul>\r\n<\/section>&nbsp;\r\n\r\nAt the maturity date of a note, the maker is responsible for the principal plus interest. The payee should record the interest earned and remove the note from its Notes Receivable account.\r\n\r\nStart this analysis by scratching out some T accounts:\r\n<div class=\"table-wrapper\">\r\n<table class=\"fin-table tchart\"><caption>Checking Account<\/caption>\r\n<thead>\r\n<tr>\r\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\r\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table tchart\"><caption>Notes Receivable<\/caption>\r\n<thead>\r\n<tr>\r\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\r\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\">200,000<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<div class=\"table-wrapper\">\r\n<table class=\"fin-table tchart\"><caption>Interest Receivable<\/caption>\r\n<thead>\r\n<tr>\r\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\r\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\">4,056<\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<table class=\"fin-table tchart\"><caption>Interest Revenue<\/caption>\r\n<thead>\r\n<tr>\r\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\r\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<span style=\"font-size: 1rem; text-align: initial;\">Note receivable in January has a debit balance of $200,000 that represents the original amount of the note. At the end of the year, we posted $4,055.56 to interest receivable when we recognized the amount of revenue earned for October through December.<\/span>\r\n\r\nWhen HWC pays the note plus interest on January 17th, the due date of the note, we would analyze it like this:\r\n\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223042\/Screen-Shot-2020-11-10-at-2.17.25-PM.png\"><img class=\"alignnone wp-image-5483\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223042\/Screen-Shot-2020-11-10-at-2.17.25-PM-300x76.png\" alt=\"Two T accounts side by side. On the left is a Checking Account, with a debit entry of 205,000 dollars marked with an (a). On the right is a Notes Receivable account. it has a debit entry of 200,000 dollars and a credit entry marked with an (a) of 200,000 dollars.\" width=\"557\" height=\"141\" \/><\/a>\r\n\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223248\/Screen-Shot-2020-11-10-at-2.17.30-PM.png\"><img class=\"alignnone wp-image-5484\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223248\/Screen-Shot-2020-11-10-at-2.17.30-PM-300x83.png\" alt=\"Two T accounts next to each other. On the left is Interest Receivable. It has a debit entry of 4,056 dollars. There is also a credit entry of 4,056 dollars marked with an (a). On the right is Interest Revenue. It has a credit entry of 944 dollars that is labeled with an (a).\" width=\"563\" height=\"156\" \/><\/a>\r\n\r\nWe need to post an entry to show the debt has been satisfied (CR Notes Receivable $200,000) and we received $205,000 in principal plus interest. We also need to record payment of the interest recognized last year ($4,055.56 = 73 days) and the interest earned and paid in January $944.44 = 17 days).\r\n<table class=\"fin-table gridded\"><caption class=\"u-clearfix\"><span style=\"text-transform: uppercase;\">Journal<\/span><span style=\"float: right;\">Page 1<\/span><\/caption>\r\n<thead>\r\n<tr aria-hidden=\"true\">\r\n<td colspan=\"5\"><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"col\">Date<\/th>\r\n<th scope=\"col\">Description<\/th>\r\n<th scope=\"col\">Post. Ref.<\/th>\r\n<th scope=\"col\">Debit<\/th>\r\n<th scope=\"col\">Credit<\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr>\r\n<td>20--<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th scope=\"row\">Jan 17<\/th>\r\n<td>Checking Account<\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">205,000.00<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\r\n<td>\u00a0 \u00a0 \u00a0 Note Receivable<\/td>\r\n<td><\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">200,000.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\r\n<td>\u00a0 \u00a0 \u00a0 Interest Receivable<\/td>\r\n<td><\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">4,055.56<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\r\n<td>\u00a0 \u00a0 \u00a0 Interest Revenue<\/td>\r\n<td><\/td>\r\n<td class=\"r\"><\/td>\r\n<td class=\"r\">944.44<\/td>\r\n<\/tr>\r\n<tr>\r\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\r\n<td>To record interest earned on note to HWC<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\nIf we did our analysis correctly, the balance in the note receivable account after posting this entry will be zero (because we only had one note outstanding\u2014if there were more notes, those balances would still be reflected in that account) as will the balance in the accrued interest account (interest receivable, again, because we only had one note). Checking increased by the amount of the principal plus interest that agrees with the wire transfer in or the deposit of the check, and the $944.44 interest revenue recognized in January that balances the entry should be $200,000 X .10 X 17\/360 = 944.44.\r\n\r\nThis is a good example of how accounting is elegant in both its complexity and its symmetry.\r\n\r\n<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30015113\/secretary-2199013_19201.jpg\"><img class=\"size-medium wp-image-4587 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30015113\/secretary-2199013_19201-300x200.jpg\" alt=\"A woman sitting at a computer.\" width=\"300\" height=\"200\" \/><\/a>\r\n\r\nNow let\u2019s look at the opposite scenario. Sometimes the maker of a note does not pay the note when it becomes due. A dishonored note is a note the maker failed to pay at maturity. Since the note has matured, the holder or payee removes the note from Notes Receivable and records the amount due in Accounts Receivable.\r\n\r\nThus, the payee of the note should debit Accounts Receivable for the maturity value of the note and credit Notes Receivable for the note\u2019s face value and Interest Revenue for the interest.\r\n\r\nIn addition, properly executed notes can be sold to a bank or other financial institution, much like an account receivable can be factored. The bank will pay less than the face value in order to offset the risk it assumes, but the company that held the note now has cash and doesn\u2019t have to worry about collecting on the note (assume the note was sold without recourse).\r\n\r\nAlso, if a note has a duration of longer than one year, and the maker does not pay interest on the note during the first year, it is customary to add the unpaid interest to the beginning principal balance in the second year, and use that amount as the basis upon which to calculate interest in the second year (compounding interest). If the interest is being treated as simple interest, with no compounding, the unpaid interest is just carried forward in the Interest Receivable account.\r\n\r\n<section class=\"textbox tryIt\" aria-label=\"Try It\">[ohm2_question hide_question_numbers=1]25158[\/ohm2_question]\r\n[ohm_question hide_question_numbers=1]204412[\/ohm_question]<\/section>","rendered":"<section class=\"textbox learningGoals\" aria-label=\"Learning Goals\">\n<ul>\n<li>Journalize collections on notes receivable<\/li>\n<\/ul>\n<\/section>\n<p>&nbsp;<\/p>\n<p>At the maturity date of a note, the maker is responsible for the principal plus interest. The payee should record the interest earned and remove the note from its Notes Receivable account.<\/p>\n<p>Start this analysis by scratching out some T accounts:<\/p>\n<div class=\"table-wrapper\">\n<table class=\"fin-table tchart\">\n<caption>Checking Account<\/caption>\n<thead>\n<tr>\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table tchart\">\n<caption>Notes Receivable<\/caption>\n<thead>\n<tr>\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\">200,000<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"table-wrapper\">\n<table class=\"fin-table tchart\">\n<caption>Interest Receivable<\/caption>\n<thead>\n<tr>\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\">4,056<\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"fin-table tchart\">\n<caption>Interest Revenue<\/caption>\n<thead>\n<tr>\n<th class=\"u-sr-only\" scope=\"col\">Debit<\/th>\n<th class=\"u-sr-only\" scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<tr>\n<td class=\"r\"><\/td>\n<td class=\"r\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"font-size: 1rem; text-align: initial;\">Note receivable in January has a debit balance of $200,000 that represents the original amount of the note. At the end of the year, we posted $4,055.56 to interest receivable when we recognized the amount of revenue earned for October through December.<\/span><\/p>\n<p>When HWC pays the note plus interest on January 17th, the due date of the note, we would analyze it like this:<\/p>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223042\/Screen-Shot-2020-11-10-at-2.17.25-PM.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5483\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223042\/Screen-Shot-2020-11-10-at-2.17.25-PM-300x76.png\" alt=\"Two T accounts side by side. On the left is a Checking Account, with a debit entry of 205,000 dollars marked with an (a). On the right is a Notes Receivable account. it has a debit entry of 200,000 dollars and a credit entry marked with an (a) of 200,000 dollars.\" width=\"557\" height=\"141\" \/><\/a><\/p>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223248\/Screen-Shot-2020-11-10-at-2.17.30-PM.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5484\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/10223248\/Screen-Shot-2020-11-10-at-2.17.30-PM-300x83.png\" alt=\"Two T accounts next to each other. On the left is Interest Receivable. It has a debit entry of 4,056 dollars. There is also a credit entry of 4,056 dollars marked with an (a). On the right is Interest Revenue. It has a credit entry of 944 dollars that is labeled with an (a).\" width=\"563\" height=\"156\" \/><\/a><\/p>\n<p>We need to post an entry to show the debt has been satisfied (CR Notes Receivable $200,000) and we received $205,000 in principal plus interest. We also need to record payment of the interest recognized last year ($4,055.56 = 73 days) and the interest earned and paid in January $944.44 = 17 days).<\/p>\n<table class=\"fin-table gridded\">\n<caption class=\"u-clearfix\"><span style=\"text-transform: uppercase;\">Journal<\/span><span style=\"float: right;\">Page 1<\/span><\/caption>\n<thead>\n<tr aria-hidden=\"true\">\n<td colspan=\"5\"><\/td>\n<\/tr>\n<tr>\n<th scope=\"col\">Date<\/th>\n<th scope=\"col\">Description<\/th>\n<th scope=\"col\">Post. Ref.<\/th>\n<th scope=\"col\">Debit<\/th>\n<th scope=\"col\">Credit<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>20&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th scope=\"row\">Jan 17<\/th>\n<td>Checking Account<\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">205,000.00<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\n<td>\u00a0 \u00a0 \u00a0 Note Receivable<\/td>\n<td><\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">200,000.00<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\n<td>\u00a0 \u00a0 \u00a0 Interest Receivable<\/td>\n<td><\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">4,055.56<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\n<td>\u00a0 \u00a0 \u00a0 Interest Revenue<\/td>\n<td><\/td>\n<td class=\"r\"><\/td>\n<td class=\"r\">944.44<\/td>\n<\/tr>\n<tr>\n<th><span class=\"u-sr-only\">Jan 17<\/span><\/th>\n<td>To record interest earned on note to HWC<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>If we did our analysis correctly, the balance in the note receivable account after posting this entry will be zero (because we only had one note outstanding\u2014if there were more notes, those balances would still be reflected in that account) as will the balance in the accrued interest account (interest receivable, again, because we only had one note). Checking increased by the amount of the principal plus interest that agrees with the wire transfer in or the deposit of the check, and the $944.44 interest revenue recognized in January that balances the entry should be $200,000 X .10 X 17\/360 = 944.44.<\/p>\n<p>This is a good example of how accounting is elegant in both its complexity and its symmetry.<\/p>\n<p><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30015113\/secretary-2199013_19201.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4587 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5107\/2020\/10\/30015113\/secretary-2199013_19201-300x200.jpg\" alt=\"A woman sitting at a computer.\" width=\"300\" height=\"200\" \/><\/a><\/p>\n<p>Now let\u2019s look at the opposite scenario. Sometimes the maker of a note does not pay the note when it becomes due. A dishonored note is a note the maker failed to pay at maturity. Since the note has matured, the holder or payee removes the note from Notes Receivable and records the amount due in Accounts Receivable.<\/p>\n<p>Thus, the payee of the note should debit Accounts Receivable for the maturity value of the note and credit Notes Receivable for the note\u2019s face value and Interest Revenue for the interest.<\/p>\n<p>In addition, properly executed notes can be sold to a bank or other financial institution, much like an account receivable can be factored. The bank will pay less than the face value in order to offset the risk it assumes, but the company that held the note now has cash and doesn\u2019t have to worry about collecting on the note (assume the note was sold without recourse).<\/p>\n<p>Also, if a note has a duration of longer than one year, and the maker does not pay interest on the note during the first year, it is customary to add the unpaid interest to the beginning principal balance in the second year, and use that amount as the basis upon which to calculate interest in the second year (compounding interest). If the interest is being treated as simple interest, with no compounding, the unpaid interest is just carried forward in the Interest Receivable account.<\/p>\n<section class=\"textbox tryIt\" aria-label=\"Try It\"><iframe loading=\"lazy\" id=\"ohm25158\" class=\"resizable\" src=\"https:\/\/ohm.one.lumenlearning.com\/multiembedq.php?id=25158&theme=lumen&iframe_resize_id=ohm25158&source=tnh\" width=\"100%\" height=\"150\"><\/iframe><br \/>\n<iframe loading=\"lazy\" id=\"ohm204412\" class=\"resizable\" src=\"https:\/\/ohm.lumenlearning.com\/multiembedq.php?id=204412&theme=lumen&iframe_resize_id=ohm204412&source=tnh\" width=\"100%\" height=\"150\"><\/iframe><\/section>\n","protected":false},"author":6,"menu_order":16,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Collecting Payments on Notes Receivable.\",\"author\":\"Joseph Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"\",\"author\":\"Claudio_Scott\",\"organization\":\"\",\"url\":\"https:\/\/pixabay.com\/photos\/secretary-used-glasses-2199013\/\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"https:\/\/pixabay.com\/service\/terms\/#license\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":162,"module-header":"- Select Header -","content_attributions":[{"type":"original","description":"Collecting Payments on Notes Receivable.","author":"Joseph Cooke","organization":"Lumen Learning","url":"","project":"","license":"cc-by","license_terms":""},{"type":"cc","description":"","author":"Claudio_Scott","organization":"","url":"https:\/\/pixabay.com\/photos\/secretary-used-glasses-2199013\/","project":"","license":"cc0","license_terms":"https:\/\/pixabay.com\/service\/terms\/#license"}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/178"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/wp\/v2\/users\/6"}],"version-history":[{"count":3,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/178\/revisions"}],"predecessor-version":[{"id":563,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/178\/revisions\/563"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/parts\/162"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapters\/178\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/wp\/v2\/media?parent=178"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=178"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/wp\/v2\/contributor?post=178"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/financialaccounting\/wp-json\/wp\/v2\/license?post=178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}