menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting Study Set 5
  4. Exam
    Exam 17: Accounting for Notes and Interest
  5. Question
    The Account, Discount on Notes Payable, Is a
Solved

The Account, Discount on Notes Payable, Is a

Question 88

Question 88

Multiple Choice

The account, Discount on Notes Payable, is a


A) contra-asset.
B) deferred charge.
C) contra-liability.
D) liability.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q83: Federal Bank of America has loaned $9,000

Q84: The adjusting entry for accrued interest on

Q85: A three-month note dated April 1 would

Q86: The time of the note consists of

Q87: In calculating interest on a note, it

Q89: Prepare the general journal entries for Infinity

Q90: Match the terms with the definitions.<br>-A written

Q91: Face value of a note plus interest

Q92: The account, Discount on Notes Payable, is

Q93: Under accrual accounting, revenue is recognized when

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines