If you start a small business, it is unlikely that you will have the necessary capital to get the business running. Instead, you will have to find someone to either lend you money or invest in your ...

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 ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

Accounting is the practice of recording a company’s financial transactions. To do this, it relies on two fundamental records: credit and debit in accounting. The ladder, a debit, is a journal entry ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...