Choose from the following list of account titles the one that most accurately fits the description of that account or is an example of that account.An account title may be used more than once or not at all.
-A written obligation to repay a fixed amount, with interest, at some time in the future
A) Cash
B) Prepaid Asset
C) Investments
D) Taxes Payable
E) Preferred Stock
F) Accounts Receivable
G) Land
H) Accounts Payable
I) Retained Earnings
J) Notes Receivable
K) Buildings
L) Notes Payable
M) Common Stock
Correct Answer:
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