The money a corporation borrows by issuing a notes payable must be repaid to the lender with interest. All transactions related to the note and the exchange of monies between the borrower and lender ...

If your business extends credit to its customers, charging and collecting interest is well within your right. Most businesses with account receivables don't charge interest unless payment is really ...

Auditors know that journal-entry testing is one of many procedures they can use in addressing client data completeness and, hence, audit risk (see AU-C Section 240, Consideration of Fraud in a ...