Solved

Match Each of the Following Descriptions with Its Term Associated

Question 150

Matching

Match each of the following descriptions with its term associated with notes receivable.

Premises:
The amount due when the note is paid off.
The amount charged for using the money of another party.
The time between the date a note is issued and the due date of the note.
The stated rate charged for using the money of another party
A formal written instrument that represents amounts due from customers.
The party promising to pay a note
The dollar amount listed on the promissory note.
A note that is not paid when it is due
Responses:
Notes Receivable
Maturity Value
Interest
Interest Rate
Dishonored Note
Face Amount
Maker
Term

Correct Answer:

The amount due when the note is paid off.
The amount charged for using the money of another party.
The time between the date a note is issued and the due date of the note.
The stated rate charged for using the money of another party
A formal written instrument that represents amounts due from customers.
The party promising to pay a note
The dollar amount listed on the promissory note.
A note that is not paid when it is due
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