| AB |
The date a keep in mind is signed is referred to as the _______.
You are watching: The party to whom the promissory note is payable is the
issue date |
| The ________ of audit requires that amounts be reported on the gaue won statements in a way that is least likely come overstate income or assets. | conservatism principle |
| The ______ is the primary plus the attention that should be paid once the keep in mind becomes due. | maturity value |
| A(n) ________ is a jae won document, such as a check, that transfers property from one human being to another. | negotiable instrument |
| The length of time between the issue date that a note and the date the keep in mind becomes early out is dubbed its ________. | term |
| A(n) _______ is a financial institution charge do on the endorser because that a discounted note that is dishonored. | protest fee |
| The due day or the day on i beg your pardon a note should be payment is the ________. | maturity date |
| _______ is the amount created on the former of a note. | face value |
| A written commitment to salary a certain sum of money on need or top top a details date is referred to as a(n) ______. | promissory note |
| The ________ is the lot of attention expressed as a percentage of the principal. | interest rate |
| The _____ is the quantity of money gift borrowed. | principal |
| With the ________, revenue is reported in the duration when the is earned and expenses space reported in the period in which they room incurred. | accrual basis of accounting |
| The person or service promising to repay the principal and also interest is referred to as the ________ the the note. | maker |
| A promissory note welcomed by a human being 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 organization to who a note is payable is dubbed the _______. | payee |
| A(n) _______ is an stimulate by one party to a second party to salary a specific sum that money to a 3rd party. | draft |
| _______ is a dues charged because that the use of money. | interest |
| If a company or person falls short to pay or renew a note when it becomes due, the note is called a(n) _______. | dishonored note |
| A(n) ____ is special form of draft that outcomes from the sale of merchandise; it is accounting for as a note receivable. | trade acceptance |
| Notes that a company sells come the financial institution for cash fairly than holding them until they end up being due are referred to as _________. | discounted note receivable |
| The ________ is the interest fee the financial institution deducts in breakthrough for a note. | bank discount |
| The ______ is the amount of cash in reality received once a company discounts a keep in mind receivable. | proceeds |
| The number of days in between the date a keep in mind is marketed to the bank and also the day the keep in mind becomes due is the ________. | discount period |
A(n) ______ is the obligation assumed through the endorser to salary a discounted note at maturity if the machine does not.
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| contingent liability |
| A note that requires the primary plus attention to be repaid in ~ maturity is called a(n) ________. | interest-bearing note |
