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Note Receivable
A written promise for a specified amount of money to be paid by a debtor at a certain future date.
Principal
The original sum of money borrowed in a loan or the initial amount of investment, excluding any interest or profits.
Interest
A payment made for the use of borrowed money, usually calculated as a percentage of the principal amount.
Note Receivable
A written promise for amounts to be received by a debtor, where the debtor agrees to pay back the amount, often with interest, by a specified date.
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