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A company accepted a 60 day note receivable in exchange for an outstanding accounts receivable. Which of the following statements is true? Normally, the note

A company accepted a 60 day note receivable in exchange for an outstanding accounts receivable. Which of the following statements is true?

Normally, the note receivable will be recorded at its present value

Normally, the note receivable entry will reflect a discount or premium

Normally, the entry would simply be a debit to the note and credit the accounts receivable at the amount of the accounts receivable

None of the above

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