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Definition of Notes payable
Amounts owed by the company that have been formalized by a legal document called a note.
Terms that refer to the combination of
Current means that these liabilities require payment in
This is typically the accounts payable, short-term notes payable, and
Money owed to suppliers.
Amounts a company owes to creditors.
Amounts owed by the company for goods and services that have been received, but have not yet been paid for. Usually Accounts payable involves the receipt of an invoice from the company providing the services or goods.
Short-term, non-interest-bearing liabilities of a business
Acurrent liability on the balance sheet, representing short-term obligations
Amounts due to vendors for purchases on open account, that is, not evidenced
The number of days it would take to pay the ending balance
Expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
notes issued by states and municipalities to obtain interim financing for
Amounts owed by the company that have been formalized by a legal document called a bond.
Short-term securities that are repayable immediately upon the holder's demand.
Documented discount notes
Commercial paper backed by normal bank lines plus a letter of credit from a
Note the maturity of which can be extended by mutual agreement of the issuer and
The amount of interest that is owed but has not been paid at the end of a period.
Amounts that have been loaned to the company and that it still owes.
Money market notes
Publicly traded issues that may be collateralized by mortgages and MBSs.
Short-term notes issued by municipalities in anticipation of tax receipts, proceeds from a
notes receivable are promissory notes that the company has accepted from its debtors. Most promissory notes pay interest. Those that are due within a year are shown under “Current Assets.” Those that mature in more than a year would be listed under “Long-term Assets.” If a note is being
Amounts owed to the company that have been formalized by a legal agreement called a note.
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
Payable through drafts
A method of making payment that is used to maintain control over payments made
Related: Accounts payable.
Payroll taxes payable
The amount of payroll taxes owed to the various governments at the end of a period.
Project notes (PNs)
Project notes are issued by municipalities to finance federally sponsored programs in
Salaries that are owed but have not been paid at the end of a period.
TANs (tax anticipation notes)
Tax anticipation notes issued by states or municipalities to finance current
Debt obligations of the U.S. Treasury that have maturities of more than 2 years but less than 10 years.
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