A note is a form of debt. If the note is due within a year, it's a short-term debt; otherwise, it's classified as long term. If you lend money in the form of a note, you usually have the debtor sign a ...
A note payable is a debt that is established with a written agreement, such as a bank loan. The notes payable account in the liabilities section of the balance sheet represents the total amount a ...
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