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Oceans,Inc.collected $400 from one of its customers for payment on their account.The journal entry would include a:
Principal Debtor
The main party obligated to repay a loan or debt.
Parol Evidence Rule
A legal principle that prevents parties from using oral or extrinsic evidence to contradict, vary, or add to the terms of a written contract.
Subsequent Agreements
Agreements made after the initial agreement, which may modify or affirm the conditions of the first.
Integrated Contract
A contract in which multiple documents or agreements are combined and considered to be parts of a single binding agreement.
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