Match each of the following terms with the appropriate definitions.

The expected proceeds from

converting an asset into cash

A written promise to pay a

specified amount of money,

usually with interest, either on

demand or at a definite future

date

Interest

The accounting principle that

requires expenses to be reported

Maker of a note

in the same period as the sales

they helped to produce

Realizable value

Amounts due from customers for

credit sales

The party to whom the promissory

Promissory note

note is payable

The charge a borrower pays for

Payee of a note

using money borrowed

The party who signs a note and

Aging of accounts

promises to pay it at maturity