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Installment Note Payable
A liability that represents a loan that is repaid in regular payments over a set period of time.
Accrue Interest
The process of recognizing interest income or expense that has been earned or incurred but not yet received or paid.
Multi-step Income Statement
An income statement that segregates total revenues and expenses into operating and non-operating categories, providing a detailed view of a company's financial performance.
Bond Discount
The disparity in value when a bond's selling price is beneath its designated face value.
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