Installment Notes vs. Bonds Payable

Read Chapter 14 of the textbook (Warren, C., Reeve, J. M., & Duchac, J. (2018). Accounting (27th ed.). and then discuss the following situation:
Fleeson Company needs additional funds to purchase equipment for a new production facility and is considering either issuing bonds payable or borrowing the money from a local bank in the form of an installment note. How does an installment note differ from a bond payable?

Reference: Warren, C., Reeve, J. M., & Duchac, J. (2018). Accounting (27th ed.). Cengage.

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