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Federal Depository Bank
A Federal Depository Bank is a financial institution authorized by the federal government to hold and manage the funds of the U.S. Treasury and other government entities.
Overdue Account Payable
An obligation owed by a company to a supplier for which payment has not been made within the agreed upon timeframe.
Note Payable
A written promise to pay a certain amount of money, often bearing interest, by a specified date to the holder of the note.
FICA Taxes
Taxes imposed on both employees and employers to fund Social Security and Medicare programs, based on earned wages.
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