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Find notes receivable discounted is presented in the balance

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Reference no: EM132778459

Problem 1: In the lender's point of view, which item shall be added to the principal amount of loan to determine its carrying value?

A. direct origination costs

B. Indirect origination costs

C. origination costs charged to borrower

D. A and B

E. A, B and C

Problem 2: Notes receivable discounted is presented in the balance sheet as

A. part of contingent liability

B. part of current liabilities

C. a reduction of notes receivable

D. Other noncurrent assets

Reference no: EM132778459

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