Definitions. . 1  a musical direction to remove or play without the mute or (on the piano) with the sustaining pedal pressed down.efinitions. . 1  a musical direction to remove or play without the mute or (on the piano) with the sustaining pedal pressed down.
If you return goods to a supplier or if a customer returns goods to you for a full or partial credit, a credit note must be issued so that you or your customer can process this and adjust your accounts accordingly. A credit note is the recording in your accounts of the funds returned to the customer for a paid invoice.
A written promissory note is a note payable for the borrower and it is a note receivable for the lender. Hence, the promissory note is a liability for the borrower and it is an asset for the lender.To illustrate, let's assume that Local Retailer borrows $20,000 from its bank and signs a promissory note. Local Retailer records $20,000 in its liability account Notes Payable and also records the $20,000 in its Cash account. The bank records the $20,000 promissory note in its asset account Notes Receivable and it records the $20,000 increase in its customer's checking account (which is a liability account on the bank's balance sheet).