Slide card in the Promissory Note

Aug 6th, 2022
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How to slide card in the Promissory Note

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(soft music) - [Jennifer] Hello and welcome, this is Jennifer McGuire. Now slider cards are very popular right now, so I thought I would do my take on a slider card where I hide the track so you dont see it on your card. Im actually creating three examples today, two are slider cards and one is a pull tab card. So there are many ways you can do these cards. So this is the pull tab card where you pull the little tab and the sentiment shows and the little bike rider moves. Here is a slider card where you just shake back and forth and the bike goes back and forth, and here the little space boy goes back and forth. So Im gonna show you all of these today along with some tips. However, if youve never done a basic slider card, I encourage you to check out a video that my friend Kelly Marie Alvarez did. She is the owner of Lawn Fawn. I will link to her slider card video here. The beginning of this video shows the basics of slider cards, and it is really well done so I encourage you to che

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A promissory note typically contains all the terms involved, such as the principal debt amount, interest rate, maturity date, payment schedule, the date and place of issuance, and the issuers signature.
Answer and Explanation: The correct option is (C) general journal.
When the borrower signs the promissory note, the lender records the written promise in a Notes Receivable account, which appears under Assets on the lenders balance sheet. At the same time, the borrower records the obligation in a liabilities account such as Notes Payable, Bank Loans Payable, or something similar.
The promissory note journal entry is recorded by debiting the account that receives value, commonly the cash account, and crediting the notes payable account.
1) The maker: This is basically the person who makes or executes a promissory note and pays the amount therein. 2) The payee: The person to whom a note is payable is the payee. 3) The holder: A holder is basically the person who holds the notes.
Journal Entries for Promissory Notes Issue. Payee A/c. Dr. To Bills Payable A/c. (Being issue of the promissory note) Payment. Bills Payable A/c. Dr. To Cash A/c. (Being payment of Promissory Note. Dishonour.
Credit cards are the main example, as youll typically have a document known as a cardholder agreement that lists details of the relationship. This is a different type of document than a promissory note, but it is important to realize it is still a legally enforceable document.
As you repay the loan, youll record notes payable as a debit journal entry, while crediting the cash account. This is recorded on the balance sheet as a liability. But you must also work out the interest percentage after making a payment, recording this figure in the interest expense and interest payable accounts.

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