Acct13&14.txt

Card Set Information

Author:
pgmorales
ID:
132629
Filename:
Acct13&14.txt
Updated:
2012-02-03 10:27:11
Tags:
accounting
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Description:
exam 13 and 14
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  1. Party receiving the amount due on a note
    Payee
  2. An auxiliary record used for listing thedetails of notes issued
    Notes payable register
  3. Pricipal of a loan less the discount
    Proceeds
  4. Amount deducted from the face value of a note by a bank when making a loan to a business
    Discount
  5. Contra - liability account
    Discount on notes payable
  6. Party who signs a promissory note
    Maker
  7. Due date of a note
    Maturity date
  8. The signed document that states that a borrower promises to pay a certain sum at a fixed time in the future
    Promissory note
  9. What the debit to Notes Payable represents when a note is paid at maturity
    Face value of the note
  10. Accrued interest on note overlapping two or more fiscal periods
    Interests requiring adjustments
  11. When a note is endorsed at a bank and the payee receives proceeds less interest
    Discounting a note receivable
  12. Time between signing of a note and the date it matures
    Period of a note
  13. An amount whose obligation depends on certain events or conditions taking place
    Coningent liability
  14. A list of notes receivable
    Notes receivable register
  15. Principal or face value of a note plus accrued interest to due date
    Maturity value
  16. Time between date a note is discounted and the date it matures
    Discount period
  17. Maker fails to pay principal or interest
    Dishonored noter receivable
  18. Required by interest-bearing loans that overlap two or more fiscal periods
    Adjusting entries
  19. value at maturity less discount
    Proceeds

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