A. Enumerate the different purpose/usage of having a borrower's receipt.
1. The trust receipt serves as a promissory note to the bank that the loan amount will be repaid upon sale of the goods.
B. Why is it important to have a borrowers receipt?
-- It is important to have a borrowers receipt because to serves as a promissory note to the bank that the loan amount will be repaid upon sale of the goods.
I'm sorry if that's my only answer but I hope I can help you somehow. Correct me if I'm WRONG^_^
Answers & Comments
A. Enumerate the different purpose/usage of having a borrower's receipt.
1. The trust receipt serves as a promissory note to the bank that the loan amount will be repaid upon sale of the goods.
B. Why is it important to have a borrowers receipt?
-- It is important to have a borrowers receipt because to serves as a promissory note to the bank that the loan amount will be repaid upon sale of the goods.
I'm sorry if that's my only answer but I hope I can help you somehow. Correct me if I'm WRONG^_^