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  3. the account discount on notes payable: question 37

The account Discount on Notes Payable: Question 37 options: usually has a credit balance and...

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Accounting

The account Discount on Notes Payable: Question 37 options: usually has a credit balance and is added to the Notes Payable account. is recorded only when the note has a stated interest rate. is amortized over the life of the note by a transfer to interest revenue. represents future interest expense which will be incurred over the life of the note. None of these

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