A short-term note payable is a written promise to pay a specified amount on a stated future date within five years or the operating cycle,whichever is more reasonable.

Name: A short-term note payable is a written promise to pay a specified amount on a stated future date within five years or the operating cycle,whichever is more reasonable.
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A short-term note payable is a written promise to pay a specified amount on a stated future date within one year or the operating cycle, whichever is longer.

A Short-Term Note Payable Is a Written Promise to Pay