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chp 9 sec 2

QuestionAnswer
income statement approach a method of estimating uncollectible receivables
interest revenue to the payee for loaning money
interest period period of time where interest is computed
interest rate the % rate of interest
maker of a note the person who has to pay for the note "before"
maturity value sum of principal plus interest due at maturity
payee of a note the person who gets money from a note "after"
principle money loaned out by payee
promissory note written promise to pay money
receivables monetary claims against business
Created by: 12azimmerman
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