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In the mining frontier,
Installment Note
A debt instrument that requires the borrower to make regular payments (installments) of principal and interest over a set period until the total debt is paid.
Journal Entry
A record in the books of accounts that represents a transaction and its effect on various accounts.
Interest Expense
The financial charge for an entity using borrowed capital over a time frame.
Notes Payable
Short-term or long-term liabilities representing amounts owed on written promises to pay a specific sum of money at a future date.
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