| A | B |
|---|
| Promissary Note | A written and signed promise to pay a sum of money at a specified time. |
| Notes Payable | Promissory notes signed by a business and given to a creditor. |
| Date of a Note | The day a note is issued. |
| Principal of a Note | The original amount of a note. |
| Maturity Date of a Note | The date a note is due. |
| Interest | An amount paid fo rthe use of money for a period of time. |
| Interest Rate of a Note | The percentage of the principal that is paid for use of the money. |
| Prepaid Expenses | Expenses paid in one fiscal period but not reported as expenses until a later fiscal period. |
| Reversing Entry | An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period. |
| Accrued Expenses | Expenses incurred in one fiscal period but not paid until a later fiscal period. |
