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Goslyn Corporation issued a three-year non-interest-bearing note in exchange for equipment. The face value of the note is $15,000 and its present value is $11,000.

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Goslyn Corporation issued a three-year non-interest-bearing note in exchange for equipment. The face value of the note is $15,000 and its present value is $11,000. The entry to record this transaction will include: debit to Equipment for $11,000. debit to Discount on Note Payable for $11.000. debit to Equipment for $4,000. O debit to Cash for $11,000 credit to Note Payable for $11,000

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