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Hat Trick Manufacturing sold equipment to Puck & Co., taking in exchange a zero interest bearing note. The equipment had a fair market value of
Hat Trick Manufacturing sold equipment to Puck & Co., taking in exchange a zero interest bearing note. The equipment had a fair market value of $36,000 and the face amount of the note was $40,000. How should Hat Trick Manufacturing present the note in a balance sheet prepared immediately after receipt of the
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
2nd edition
978-0132771801, 9780132771580, 132771802, 132771586, 978-0133052152
