Accounting 2 Chapter 20 Review- Matching

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Terms in this set (...)

The number assigned to a specific note
number of a note
the date a note is signed
date of a note
the person or business to whom the amount of a note is payable
payee of a note
the days, months or years from the date of signing until a note is to be paid
time of a note
the original amount of a note
principal of a note
the percentage of the principal that is paid for use of the money
interest rate of a note
the date a note is due
maturity date of a note
the person or business who signs a note and thus promises to make payment
maker of a note
a written and signed promise to pay a sum of money at a specified time
promissory note
a person or organization to whom a liability is owed
creditor
promissory notes signed by a business and given to a creditor
notes payable
an amount paid for the use of money for a period of time
interest
the amount that is due on the maturity date of a note
maturity value
liabilities due within a short period of time, usually within a year
current liabilities
the interest accrued on money borrowed
interest expense
promissory notes that a business accepts from customers
notes receivable
the interest earned on money loaned
interest income
a note that is not paid when due
dishonored note