True or false 1 .The note payable account will be credited at it's present value upon acquisition of a property if the note issued was non-interest bearing. 2. When an non-interest bearing note is issued to acquire an asset, the asset is debited at an amount equal to the down payment if there is any plus the face amount of the note.
True or false 1 .The note payable account will be credited at it's present value upon acquisition of a property if the note issued was non-interest bearing. 2. When an non-interest bearing note is issued to acquire an asset, the asset is debited at an amount equal to the down payment if there is any plus the face amount of the note.
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 13MC: Which of the following would be included in the financing section? A. loss on sale of investments B....
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True or false
1 .The note payable account will be credited at it's present value upon acquisition of a property if the note issued was non-interest bearing.
2. When an non-interest bearing note is issued to acquire an asset, the asset is debited at an amount equal to the down payment if there is any plus the face amount of the note.
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