Examlex
What are the components of a good IEP goal?
Note Payable
A financial liability representing a written promissory note to pay a specific sum of money to another entity on a specific future date or on demand.
Debit/Credit
Accounting terms where a debit increases asset or expense accounts, and decreases liability, revenue or equity accounts; a credit does the opposite.
Adjusting Entry
An accounting entry made into a journal at the end of an accounting period to allocate income and expenditure to the appropriate periods.
Interest Payable
A liability account showing the amount of interest expense that has been incurred but not yet paid.
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