Business
Business, 13.02.2020 22:59, torresalysabeth

A note payable was issued in payment for services received. The services had a fair value less than the face amount of the note payable. The note payable has no stated interest rate. How should the note payable be presented in the statement of financial position?Your a. At the face amount. b. At the face amount with a separate deferred asset for the discount calculated at the imputed interest rate. c. At the face amount with a separate deferred credit for the discount calculated at the imputed interest rate. d. At the face amount minus a discount calculated at the imputed interest rate

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A note payable was issued in payment for services received. The services had a fair value less than...

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