Examlex
Which of the following equations is correct?
Payee
The party in a financial transaction who receives the payment.
Note Receivable
A written promise that a specified amount of money, plus potentially interest, will be paid by one party to another by a specific date.
Maker
In finance, the party that creates or issues a financial instrument, such as a check.
Principal
The original sum of money borrowed in a loan, or the original amount invested, excluding any interest or dividends.
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