When a Company Issues a Promissory Note,the Accountant Records an Entry

question 41

Multiple Choice

When a company issues a promissory note,the accountant records an entry that includes a credit to Note Payable for the

• A) face value of the note.
• B) face value of the note plus the interest that will accrue.
• C) face value less the interest that will accrue.
• D) maturity value of the note.

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