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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 9: Current Liabilities and Contingent Obligations
  5. Question
    Discount on Notes Payable Should Be Classified as a
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Discount on Notes Payable Should Be Classified as a

Question 27

Question 27

Multiple Choice

Discount on Notes Payable should be classified as a


A) current asset.
B) contra account to Notes Payable.
C) part of shareholders' equity.
D) companion account to Notes Payable.

Correct Answer:

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