Which of the Following Statements Is True Regarding Discount Notes

question 58

Multiple Choice

Which of the following statements is true regarding discount notes?

• A)They are recorded in the account "notes payable" at more than face value on the day of issue.
• B)They are recorded in the account "notes payable" at face value on the day of issue.
• C)They are recorded in the account "notes payable" at less than face value on the day of issue.
• D)They are not recorded until the maturity date.

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