Examlex
Which of the following is NOT usually part of an entry in the General Journal?
Interest Expense
The cost incurred by an entity for borrowed funds, often appearing as a line item on the income statement.
Notes Payable
Financial obligations or loans evidenced by promissory notes, which the borrower promises to pay back to the lender according to agreed terms.
Present Value
The current value of a future sum of money or stream of cash flows given a specified rate of return.
Liability Reported
The recording of an obligation or debt that a company owes to outside parties in the financial statements.
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