Non-interest-bearing note with a discount rate


Sold stock in a nonpublic company with a book value of $4,000 and accepted a $5,000 non-interest-bearing note with a discount rate of 9%. The $5,000 payment is due on February 28, 2012. The stock has no ready market value.

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Managerial Accounting: Non-interest-bearing note with a discount rate
Reference No:- TGS083342

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