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I think a bank loan is when money is borrowed from a bank with the expectation that it will be repaid, and notes payable is then the accumulation of all loan amounts expected to be repaid according to each note (the legal document with the stipulations).
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∙ 11y ago
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What is a bank of issue?
A bank of issue is a bank which issues its own notes payable to the bearer.
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What are differences between commercial bank and non bank financial institution?
difference between non bank and commercial bank?
What is the difference between bank and banking?
Bank = nounBanking = Verb
What is the difference between bpi savings bank and bpi family savings bank?
no difference, they are one and the same
What is the difference between notes payable and trade payable?
The difference between trades payable and notes payable is based on the relationship with the business to which money is owed to. Trades payable is typically with a business' supplier while notes payable is usually with a bank. Their treatment in the cashflow statements also differs. With trades payable, the transaction is reported in the CFO (Cash flow from Operations) while notes payable under US GAAP is reported under CFF (Cash flow from financing).
Difference between account payable and bills payable?
Accounts Payable releted to Creditors and Bills payable releted to bank.
What is the difference between credit sales and accounts payable?
Credit sales referes to sales and accounts payable referes to bank
What is a bank of issue?
A bank of issue is a bank which issues its own notes payable to the bearer.
What is the journal entry for paid notes payable?
Debit notes payableCredit cash / bank
How to record journal entries for gold mining purchase?
Debit Land Discount on Notes Payable Credit Notes Payable
What is the journal entry for paying a notes payable and interest?
Debit notes payabledebit interest expenseCredit cash /bank
How do you present bank guarantee in a balance sheet?
Debit - guarantee depositCredit - Notes payable
What is the journal entry for borrow from bank and signed note payable in return?
Entry 1 [Debit] Cash xxxx [Credit] Bank xxxx Entry 2 [Debit] Bank xxxx [Credit] Notes payable xxxx
Are notes payable considered current liabilities?
Typically not... Accounts payable will be current liabilities, as these relate to purchases that need to be payed back usually within the year unless otherwise specified. Notes payable usually relate to receiving loans from a bank that will most likely be paid in more than a year, so they will be long term. Tests should always specify, but if it doesn't say short or long term, Notes payable is LONG TERM Accounts payable is SHORT TERM
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What is the difference between interest and a dividend?
Interest is a payment on debt (such as bonds or bank notes). A dividend is a distribution of earnings to the owners of a firm.
