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Notes payable is generally considered a liability and represents an obligation to pay a certain amount in the future. When a company issues a note payable, it receives cash, resulting in a cash inflow. However, when the company repays the note, it represents a cash outflow. Therefore, notes payable can involve both inflows and outflows, depending on the stage of the transaction.
What else can I help you with?
Is a decrease in notes payable a cash inflow?
No, it is a cash outflow. To reduce a note payable, you need to pay it off, and it is therefore a cash outflow.
Is increase in long terms bonds payable an inflow or and outflow?
Increase in long term notes payable is cash inflow as business has acquired more cash from issuing long term loan.
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
Discount on Notes Payable is a contra account to Notes Payable on the balance sheet?
true
When are the notes payable for Big Lots?
fo Big lots have any notes payable for the year 2012.
Is a decrease in notes payable a cash inflow?
No, it is a cash outflow. To reduce a note payable, you need to pay it off, and it is therefore a cash outflow.
Is increase in long terms bonds payable an inflow or and outflow?
Increase in long term notes payable is cash inflow as business has acquired more cash from issuing long term loan.
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
What is the Notes payable journal entry?
Debit accounts payableCredit notes payable
Discount on Notes Payable is a contra account to Notes Payable on the balance sheet?
true
How do you record journal entry to increase notes payable?
debit cashcredit notes payable
What is notes payable?
The phrase notes payable is a result of a purchase made by a business and is a form of receipt.
When are the notes payable for Big Lots?
fo Big lots have any notes payable for the year 2012.
What is the journal entry to discount notes payable?
debit cashdebit discount chargescredit notes payable account
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
What are Accounts Payable and Notes Payable?
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.
Is notes payable an asset?
no
