Multiple Choice
On June 1,2016,Dirty Harry Co.borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $500,000 and a discount rate of 6%.Assuming straight-line amortization of the discount,what is the carrying value of the note as of September 30,2016?
A) $525,000.
B) $300,000.
C) $495,000.
D) $475,000.
Correct Answer:
Verified
Correct Answer:
Verified
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