DEFINE -Count

question 29

Essay

DEFINE
-count

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Definitions:

Note Payable

A written agreement to pay a certain sum of money to a person or an organization at a certain time, considered a liability for the issuer.

Accounts Payable

Liabilities owed by a company to its suppliers or creditors for goods or services purchased on credit.

Note Receivable

A promissory note from the payee’s point of view.

Promissory Note

A written promise to pay a specified amount of money, usually with interest, at a determined future date.