Accounting - Chapter 20

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Accounting - Chapter 20
2012-05-02 14:37:17
accounting chapter 20

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  1. creditor
    a person or organization to whom a liability is owed
  2. current liabilities
    liabilities due within a short time, usually within a year
  3. date of a note
    the day a note is signed
  4. dishonored note
    a note that is not paid when due
  5. interest
    an amount pair for the use of money for a period of time
  6. interest expense
    the interest accrued on the money borrowed
  7. interest income
    the interest earned on money loaned
  8. inerest rate of a note
    the percentage of the principal that is paid for use of the money
  9. marker of a note
    the person of business who signs a note and thus promises to make payment
  10. maturity date of a note
    the date a note is due
  11. maturity value
    the amount that is due on the maturity date of a note
  12. notes payable
    promissory notes signed by a business and given to a creditor
  13. notes receivable
    promissory notes that a business accepts from customers
  14. number of a note
    the number assigned to identify a specific note
  15. payee of a note
    the person or business to whom the amount of a note is payable
  16. principal of a note
    the original amount of a note; sometimes referred to as face amount of the note
  17. promissory note
    a written and signed promise to pay a sum of money at a specified time
  18. time of a note
    the days, months, or years from the date of signing until a note is to be paid