
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.
Bonds Payable: Bonds payable represents the large-scale loan taken by the business for a major capital requirement. Bonds payable are issued to the public for raising the funds.
To Indicate: The main difference between notes payable and bonds payable

Explanation of Solution
Explanation:
Note payable and bonds payable are same for the purpose of the accounting, but the main difference between the two is their purpose of origin. Notes payable is a liability which represents the loan taken by the business of the business transactions. Bonds payable represents the large-scale loan taken by the business for a major capital requirement.
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