Essay
The following note disclosure appeared in a recent annual report of Halliburton:
Our receivables are generally not collateralized. Included in notes and accounts receivable are notes with varying interest rates totaling $12 million at December 31. At December 31, 39% of our consolidated receivables related to our United States government contracts, primarily for projects in the Middle East
-Explain the transactions that typically would affect the discount on notes receivable account.
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