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Use the following information to answer the five guestions that follow. Below is a portion of the amortization schedule relatiog to a 3-year note receivable
Use the following information to answer the five guestions that follow. Below is a portion of the amortization schedule relatiog to a 3-year note receivable from the zeroz Company. The document was signed bx a client of the s sopapx 80 Januax 1, 2018. The document nays interest anouallx gn Recembec 31. The expiration date is December, 31, 2020. Using the amortization table presented above, suppose that on December 31, 2019, the company makes the mistake of not amortizing the account of the discount in notes receivable. Indicate the effect of the error on the book value of the note receivable. Select one: a. Overestimated by $349. b. It cannot be determined. c. Overestimated by $1,000 d. Underrated by $349
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