The term of the note stated maker as a fraction of a year. The principal of the note plus interest. time The person or business agreeing to make the promissory note payment on a note. A written promise to pay a specific sum at a definite future date. maturity value

The term of the note stated maker as a fraction of a year. The principal of the note plus interest. time The person or business agreeing to make the promissory note payment on a note. A written promise to pay a specific sum at a definite future date. maturity value

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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Question

Match the terms with the definitions.

Clear Al
The term of the note stated
maker
as a fraction of a year.
The principal of the note
plus interest.
time
The person or business
agreeing to make the
promissory note
payment on a note.
A written promise to pay a
specific sum at a definite
maturity value
future date.

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