Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
interest incurred but not yet paid
|
accrued interest expense
|
|
|
expenses incurred in one fiscal period but not paid until a later fiscal period
|
accrued expenses
|
|
|
an entry made at the beginning of one fiscal period to reverse and adjusting entry made in the previous fiscal period
|
reversing entry
|
|
|
revenue earned in one fiscal period but not received until a later fiscal period
|
accrued revenue
|
|
|
a note that is not paid when due
|
dishonored note
|
|
|
the interest earned on money loaned
|
interest income
|
|
|
promissory notes that a business accepts from customers
|
notes receivable
|
|
|
the interest accrued on money borrowed
|
interest expense
|
|
|
liabilities due within a short time, usually within a year
|
current liabilities
|
|
|
the amount that is due on the maturity date of a note
|
maturity value
|
|
|
an amount paid for the use of money for a period of time
|
interest
|
|
|
promissory notes signed by a business and given to a creditor
|
notes payable
|
|
|
a person or organization to whom a liability is owed
|
creditor
|
|
|
a written and signed promise to pay a sum of money at a specified time
|
promissory note
|
|
|
the person or business who signs a note and thus promises to make payment
|
maker of a note
|
