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Recording Entries for Interest - Bearing and Noninterest - Bearing Notes d . Answer ( a ) and ( c ) assuming that the note
Recording Entries for InterestBearing and NoninterestBearing Notes
d Answer a and c assuming that the note is noninterestbearing. Use the straightline method to amortize any discount on note payable.
a How much cash should Anne Taylor Company receive from the note on August of Year assuming the note is a noninterestbearing note?
$
c What liability amounts should be shown on the December of Year balance sheet?
Please answer all parts of the question.
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