英语翻译
Short-termloansusuallyarisefromcashloansandaregenerallypayabletobanksorloancompanies.Ismostcases,thelifeofanoteissomewherebetweenthirtydaysandoneyear,andthebankorloancompanylendstheborrowingcompanylesscashthanisindicatedonthefaceofthenote.Atthematuritydate(whentheloanisdue),theborrowingcompanypaysthelendinginstitutionthefaceamountofthenote,andthedifferencebetweenthefaceamountandtheamountoftheloanistreatedasinterest.
Thediscountonnotespayableaccountservesasacontraaccounttonotespayableonthebalancesheetandrepresentsinterestthatisnotyetowedbutwillberecognizedinthefuture.Assumingthatfinancialstatementsarepreparedmonthly,one-thirdofthediscountwouldbeconvertedtointerestexpenseeachmonthbyanadjustingentryofthefollowingform:
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