note payable


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Related to note payable: promissory note

Note Payable

A document stating that a borrower has promised to repay some debt on or by some future date. It is listed as a liability on the borrower's balance sheet and may be either current or non-current.

note payable

A debt owed to a lender and evidenced by a written promise of payment. Note payable, an entry on the liabilities side of many corporate balance sheets, indicates that a certain dollar amount of loans will be repaid to the lenders at a future time.
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