Glencoe Accounting

Chapter 26: Notes Payable and Receivable

Working in the Real World

Businesses often use promissory notes to purchase large assets like land or buildings. The repayment of that note can be structured in several different ways, to accommodate the cash flow expectations of the business. Nolo.com offers an overview of promissory notes and sample repayment schedules at www.nolo.com/article.cfm/objectID/4D5D24AD-C96F-4DEE-A83DF57881D3DB55/111/277/148/ART/.