INCOME TAXES PAYABLE is income taxes due including current portion of deferred taxes.
MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.
NON-INTEREST BEARING BOND is a bond issued at a discount from its par value and not paying any interest to the holder. The interest earned is determined by the difference between the redemption price and the purchased price. U.S. Treasury bills are an example of non-interest bearing bonds.
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