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What are Notes Payable and What is the accounting treatment for Notes Payable? Briefly explain.

Accounting Cost Accounting Financial Accounting Finance Accounting and Finance
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Question added by Mohamed Hakeem Meerashahib , Branch Manager , Sri Lanka State Trading (General) Corporation
Date Posted: 2016/04/20
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Aliyu Ahmed Alhaji
by Aliyu Ahmed Alhaji , Teacher , Wuraola Group of School, Ogun state

Note payable are note that is entitled to be paid by business.it is treated as current liability in balance sheet accordance to prudence concept.

Nuridin Islam Diab
by Nuridin Islam Diab , Training Manager , Bbusinesss LLE

I agree with Mr. Ahmed's answer. 

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