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_____ is based on a person's desire to be liked by a group.
Installment Note
A debt instrument that requires regular payments, or installments, of principal and interest over a set period, until the debt is fully repaid.
Journal Entry
A record in accounting that shows a business transaction and its effect on the accounts, typically involving a debit and credit.
Interest Expense
The cost incurred by an entity for borrowed funds, referring to the interest payments made on any form of debt for a specific period.
Notes Payable
Notes payable are written agreements where a borrower agrees to pay back a specified amount of money, plus interest, to a lender by a certain date.
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