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On 1/11/2020 X company issued a $104,000, five-month, zero-interest bearing note to Castle National Bank. The present value of the note is $100,000. Required 1-Prepare
On 1/11/2020 X company issued a $104,000, five-month, zero-interest bearing note to Castle National Bank. The present value of the note is $100,000. Required 1-Prepare the journal entries that X company should record for note payable 2-Calculate the carrying value of the note payable on 31/12/2020
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Management Accounting International
Authors: Anthony A. Atkinson, Robert S. Kaplan, S. Mark Young
4th Edition
0131230263, 978-0131230262
