Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

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
promissory notes signed by a business and given to a creditor
notes payable
a person or organization to whom a liability is owed
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