Question 10 (2.5 points) Which of the following is not true about the discount on short-term notes payable? Discount on Notes Payable is amortized to Interest Expense over the term of the note. The Discount on Notes Payable account has a debit balance. Discount on Notes Payable is a contra account to Notes Payable. The Discount on Notes Payable account should be reported as an asset on the balance sheet