Sciatica is the name given to any sort of pain caused by irritation or compression of the sciatic nerve. The sciatic nerve is the longest nerve in your body. It runs from the back of your pelvis, through your buttocks, and all the way down both legs, ending at your feet.
Promissory Note: A written promise made and signed by a borrower that it will repay loan money it received. Also called a ânote.â Secured Promissory Note: A note in which the borrowerâs promise to pay a certain amount is backed up by certain specified property (called âcollateralâ). If the borrower does not repay, the lender can take the collateral. A lender is more protected under a secured note than under an unsecured note.
A business will issue a note payable if for example, it wants to obtain a loan from a lender or to extend its payment terms on an overdue account with a supplier. In the first case the note payable is issued in return for cash, in the second case they are issued in return for cancelling an accounts payable balance. Issued for Cash In notes payable accounting there are a number of journal entries needed to record the note payable itself, accrued interest, and finally the repayment. Suppose for example, a business issues a note payable for 15,000 due in 3 months at 8% simple interest in order to obtain a loan, then the total interest due at the end of the 3 months is 15,000 x 8% x 3 / 12 = 300.