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Accounting - Chapter 20
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creditor
a person or organization to whom a liability is owed
current liabilities
liabilities due within a short time, usually within a year
date of a note
the day a note is signed
dishonored note
a note that is not paid when due
interest
an amount pair for the use of money for a period of time
interest expense
the interest accrued on the money borrowed
interest income
the interest earned on money loaned
inerest rate of a note
the percentage of the principal that is paid for use of the money
marker of a note
the person of business who signs a note and thus promises to make payment
maturity date of a note
the date a note is due
maturity value
the amount that is due on the maturity date of a note
notes payable
promissory notes signed by a business and given to a creditor
notes receivable
promissory notes that a business accepts from customers
number of a note
the number assigned to identify a specific note
payee of a note
the person or business to whom the amount of a note is payable
principal of a note
the original amount of a note; sometimes referred to as face amount of the note
promissory note
a written and signed promise to pay a sum of money at a specified time
time of a note
the days, months, or years from the date of signing until a note is to be paid
Author
kaylacody17
ID
151710
Card Set
Accounting - Chapter 20
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Updated
5/2/2012, 6:37:17 PM
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