answer each line with explanations and examples (study guide)

write definitions of each

Chapter 10 Understand creditor/lender and debtor/borrower Record notes payable issued to satisfy an account payable created earlier, issued at the time of purchase, or issued when borrowing from a bank. Journal entry on the due date of the note Calculation of total earnings/gross pay Calculation of net pay Journal entry to record payroll Calculation of employer's payroll tax expense Journal entry to record vacation pay Two types of pension plans Installment Notes (calculation of interest expense and carrying amount) Journal entry to record payments of installment