Examlex
The allowance method of accounting for bad debts records collection losses on the basis of estimates rather than waiting to determine which customers will not pay.
Promissory Note
A financial document in which one party promises to pay another party a specified sum of money at a specified date or on demand.
Maturity Date
The exact date on which a financial instrument, such as a note payable or bond, must be repaid in full.
94-Day Note
Describes a short-term debt instrument with a maturity of 94 days, often used for temporary financing needs.
Note Payable
A formal written agreement to repay a borrowed amount of money, including terms such as interest rate and maturity date.
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