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What is carrying amount of notes payable by smash company

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Reference no: EM132831069

Problem 1: On October 1, 2021, Smash Company discounted its own note of $500,000 at 10% for 1 year. In its statement of financial position on December 31, 2021, what is the carrying amount of notes payable to be presented as current liability by Smash Company?

Reference no: EM132831069

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