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Spurt Company Issued a 3-Year,non-Interest-Bearing Note on January 1,2010

Question 32

Multiple Choice

Spurt Company issued a 3-year,non-interest-bearing note on January 1,2010.At what amount should the note be reported on the December 31,2010,balance sheet?


A) face amount
B) face amount plus discount amortized
C) face amount plus unamortized discount
D) face amount minus unamortized discount

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