The Financial Accounting Standards Board $($FASB$)$ Accounting Standards Codification $($ASC$)$ is the single source of authoritative generally accepted accounting principles $($GAAP$)$ in the United States. The section of the ASC that addresses the recording and presentation of notes payable, including zero$-$interest$-$bearing notes, is ASC $835-$ Interest. More specifically, ASC $835-30-05-4$ explains that if a note has a below$-$market interest rate $($which a zero$-$interest$-$bearing note does$),$ then the note is recorded at its present value. This would apply to the note that Wie Company is considering, since it's a zero$-$interest$-$bearing note.