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A means of absorption that occurs in the small intestine is
Notes Payable
Liabilities represented by formal agreements or promissory notes to pay specific amounts of money at designated times.
Interest Payable
The amount of interest expense that has been incurred (accumulated) but not yet paid as of a specific date.
Interest Expense
The cost incurred by an entity for borrowed funds, typically reported on the income statement.
Accrued Liability
Liabilities recognized on the books before they’re paid for, representing expenses that have been incurred but not yet settled in cash.
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