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Agreement
A mutual arrangement between two or more parties that is enforceable by law.
Note Payable
A formal written agreement to pay a specific sum of money at a future date, representing a liability for the borrower.
Maturity Date
The Maturity Date refers to the specified date on which the principal amount of a financial instrument, such as a bond or loan, is due to be repaid.
Journal Entry
A record in the financial ledgers of a company reflecting a business transaction, involving a debit and credit in accordance to double-entry bookkeeping.
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