ACCOUTING PRIN SET LL INCLUSIVE
ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
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Chapter 11, Problem 2Q
To determine

Note Payable: An alternative of equity or capital to finance the assets of a company is called debt. When a company borrows money from banks and other financial institutions to acquire the required assets and to run the operations of the company, the borrowed money is called debt.

To report: The note payable in the financial statements.

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