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chp 9 sec 2
Question | Answer |
---|---|
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 |