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Finance
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Long-term Loans
What term is use for the loans that are payable in over a number of years
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The term used for loans that are payable over a number of years is "long-term loans." These types of loans are usually structured to be repaid over a period of several years, often with regular installment payments.
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Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400
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Presented here are liability items for O'Brian Inc. at December 31, 2022. Accounts payable $157,000 FICA taxes payable $7,800