Examples include: Accounts Payable, Notes Payable, Taxes Payable, Rent Payable, Interest Payable, Wages Payable, and Unearned Rent Short Term Notes Payable Very much like Notes Receivable but from the view of the borrower. Book these from the perspective of the buyer and the seller: Apr 19 Spoke Co. sold \$80,000 in Merchandise to Bryden Co. on account, n/30 (Cost of Goods Sold was \$50,000) May 19 Bryden signed an $80,00090-day, 10% note as an extension of the A/R Aug 17 Bryden paid Spoke Co. the maturity value Cmolon Conn Brvden Page 1 Accounting 1A Class Notes and Classwork Chapter 10 - Liabilities: Current, Installment Notes and Contingencies