Short Term Notes Payable | Interest Expense Computation | Financial Accounting Course | CPA Exam FAR
Channel: Farhat Lectures. The # 1 CPA & Accounting Courses
Date: 2020-03-30

IN this video, I discuss short tern notes payable. Notes payable is a liability account where a borrower records a written promise to repay the lender. When carrying out and accounting for notes payable, "the maker" of the note creates liability by borrowing from another entity, promising to repay the payee with interest
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