Prepare the entry to record the fair value option

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Reference no: EM131219229

Pierre Company has a 12% note payable with a carrying value of $20,000. Pierre applies the fair value option to this note. Given an increase in market interest rates, the fair value of the note is $22,600.

Prepare the entry to record the fair value option for this note.

Reference no: EM131219229

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Prepare the entry to record the fair value option : Pierre Company has a 12% note payable with a carrying value of $20,000. Pierre applies the fair value option to this note. Given an increase in market interest rates, the fair value of the note is $22,600. Prepare the entry to record the fair value o..

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