A company owes $200,000 on a bank loan.It will be reported by the company as Notes Payable.

Name: A company owes $200,000 on a bank loan.It will be reported by the company as Notes Payable.
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Notes Payable is a liability account used to track the amount of money a company owes to a creditor or lender. If a company owes $200,000 on a bank loan, it will be reported as Notes Payable on their financial statements.

A Company Owes $200,000 on a Bank Loan