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No, it is a cash outflow. To reduce a note payable, you need to pay it off, and it is therefore a cash outflow.
Increase in long term notes payable is cash inflow as business has acquired more cash from issuing long term loan.
debit accounts payable 250credit notes payable 250
true
fo Big lots have any notes payable for the year 2012.
No, it is a cash outflow. To reduce a note payable, you need to pay it off, and it is therefore a cash outflow.
Increase in long term notes payable is cash inflow as business has acquired more cash from issuing long term loan.
Debit accounts payableCredit notes payable
debit accounts payable 250credit notes payable 250
debit cashcredit notes payable
true
The phrase notes payable is a result of a purchase made by a business and is a form of receipt.
debit cashdebit discount chargescredit notes payable account
fo Big lots have any notes payable for the year 2012.
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
Accounts payable are the amounts owed to a supplier that the buyer holds an account with. Notes payable is the amount owed to creditors, that is, suppliers that the buyer does not hold an account with.
no