Why does the discounting of a note receivable with recourse result in a contingent liability? Should the
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Why does the discounting of a note receivable with recourse result in a contingent liability?
Should the liability be reported on the balance sheet?
Explain.
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Related Book For 
Using Financial Accounting Information The Alternative To Debits And Credits
ISBN: 9780538452748
7th Edition
Authors: Curtis L. Norton, Gary A. Porter
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