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Eric Is a Student Who Is Encountering Academic Problems

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Eric is a student who is encountering academic problems.He has trouble fitting everything in that he needs to do and frequently stays up most of the night to try to catch up.What tips can you give Eric to help him deal with his stressors?


Definitions:

Note Payable

A written promise to pay a specified amount of money, usually with interest, at a future date; a form of debt.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual rate.

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or received.

Adjusting Journal Entry

A journal entry made at the end of an accounting period to record unrecognized income or expenses to ensure that the financial statements comply with the accrual concept of accounting.

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