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Accounting Equation
The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Equity.
Note Receivable
A written promise to pay a specified amount of money, with interest, by a certain date.
Adjusting Entry
An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the correct period.
Interest Payment
The amount paid by a borrower to a lender as a charge for borrowing money, usually expressed as an annual percentage of the principal amount.
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