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Which long-term interest bearing notes receivable measured

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Reference no: EM132778150

Problem 1: Long-term interest bearing notes receivable shall be initially measured at

A. Face value
B. Present value
C. Maturity value
D. Amortized cost

Problem 2: When a promissory note is dishonored

A. Account receivable is credited
B. Accounts payable is credited
C. Notes receivable is debited
D. Interest income is credited

Problem 3: A financing arrangement usually done in a without recourse, notification basis.

A. pledge
B. discounting
C. assignment
D. factoring

Reference no: EM132778150

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