| AB |
The day a note is signed is called the _______.
You are watching: The amount of the promissory note plus the interest earned on the due date is called the
issue date |
| The ________ of accountancy requires that amounts be report on the gaue won statements in a way that is the very least likely to overstate earnings or assets. | conservatism principle |
| The ______ is the major plus the attention that need to be paid once the keep in mind becomes due. | maturity value |
| A(n) ________ is a gaue won document, such as a check, that transfers property from one human to another. | negotiable instrument |
| The size of time in between the problem date that a note and the date the note becomes due is called its ________. | term |
| A(n) _______ is a financial institution charge make on the endorser for a discounted keep in mind that is dishonored. | protest fee |
| The due day or the job on i m sorry a note need to be payment is that is ________. | maturity date |
| _______ is the amount written on the prior of a note. | face value |
| A written agreement to salary a particular sum that money on need or ~ above a particular date is dubbed a(n) ______. | promissory note |
| The ________ is the quantity of attention expressed together a percent of the principal. | interest rate |
| The _____ is the amount of money being borrowed. | principal |
| With the ________, revenue is reported in the duration when it is earned and expenses are reported in the duration in i m sorry they are incurred. | accrual communication of accounting |
| The person or business promising come repay the principal and also interest is referred to as the ________ the the note. | maker |
| A promissory note embraced by a human or service is referred to as a(n) _______. | note receivable |
| ____ is revenue that has been earned yet not yet received. | accrued revenue |
| The human being or business to who a keep in mind is payable is dubbed the _______. | payee |
| A(n) _______ is an bespeak by one party come a 2nd party to salary a particular sum that money to a 3rd party. | draft |
| _______ is a fees charged for the usage of money. | interest |
| If a company or person falls short to salary or renew a keep in mind when it becomes due, the keep in mind is referred to as a(n) _______. | dishonored note |
| A(n) ____ is special form of draft that results from the sale of merchandise; that is accounted for as a note receivable. | trade acceptance |
| Notes that a organization sells come the bank for cash fairly than stop them till they come to be due are referred to as _________. | discounted notes receivable |
| The ________ is the interest fee the financial institution deducts in development for a note. | bank discount |
| The ______ is the quantity of cash in reality received when a organization discounts a note receivable. | proceeds |
| The number of days in between the date a note is sold to the bank and also the date the keep in mind becomes early is the ________. | discount period |
A(n) ______ is the responsibility assumed by the endorser to pay a discounted note at maturity if the an equipment does not.
See more: Debts Owed By A Business Are Called Quizlet, Accounting I Test 1 Part 1 Flashcards
| contingent liability |
| A keep in mind that needs the primary plus attention to it is in repaid at maturity is referred to as a(n) ________. | interest-bearing note |
