Notes payable: Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies. To Indicate: The effect of the issuance of note payable on accounts and financial statements

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Chapter 8, Problem 8.1.1MBA

To determine

Concept Introduction:

Notes payable:

Notes payable is a liability which represents the loan taken by the business of the business transactions. A note payable can be issued by a debtor to its creditor for the liability of payments for issuing supplies.

To Indicate:

The effect of the issuance of note payable on accounts and financial statements

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