Even if your business doesn't center around banking, it may involve a loan occasionally. Suppose you're a metal company, and a customer wants to buy tungsten now and pay later. You sell $5,000 worth ...

A promissory note is a note issued against short- or long-term borrowing. The borrower, or maker, signs a note promising to pay the lender an agreed sum plus interest on a certain date, for value ...

Companies often extend credit to other businesses in the form of a note, or a short-term loan. Most notes pay a stated rate of interest, resulting in interest revenue that the lender must record at ...