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When a note payable is the lender deducts interest on the loan in advance and the borrower receives only the difference between the face amount
When a note payable is the lender deducts interest on the loan in advance and the borrower receives only the difference between the face amount of the note and the interest on it to maturity.
Multiple Choice
dishonored
canceled
noninterestbearing
discounted
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
18th edition
125969240X, 978-1259692406
