How Will the Payee of the Promissory Note Record the Note

question 116

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 revenue.
• D)The promissory note will be recorded as an expense.

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