How Will the Payee of the Promissory Note Record the Note

question 45

Multiple Choice

How will the payee of the promissory note record the note on its books?

• A) The promissory note will be recorded as an asset
• B) The promissory note will be recorded as a liability
• C) The promissory note will be recorded as an equity
• D) The promissory note will be recorded as an expense

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Definitions:

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