![]() The company may consider a short-term note payable to cover the difference.Ī short-term note payable is a debt created and due within a company’s operating period (less than a year). Even if a company finds itself in this situation, bills still need to be paid. There is an ebb and flow to business that can sometimes produce this same situation, where business expenses temporarily exceed revenues. Once you receive that paycheck, you can repay the lender the amount you borrowed, plus a little extra for the lender’s assistance. ![]() You need enough money to cover your expenses until you get your next paycheck. If you have ever taken out a payday loan, you may have experienced a situation where your living expenses temporarily exceeded your assets.
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