Examlex
Which of the following species belongs in the bony class of fish?
Notes Payable
A written promise to pay a certain amount of money, usually bearing interest, by a specific date; it is a liability on the balance sheet.
Interest Payable
A liability account shown on a company’s balance sheet which represents the amount of interest expense that has accrued but has not been paid as of the balance sheet date.
Interest Expense
The financial cost of borrowing money that an entity sustains over time.
Notes Payable
Written promises to pay a specified amount of money, usually including interest, at a future date; classified as liabilities.
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