Business, 08.02.2021 18:40 salazjlove
Marion Company issued a $350,000, zero-interest-bearing, 5-year note in exchange for land with a fair market value of $287,000 from Palma Real Estate. If the present value of the note at an appropriate rate of interest is $287,000, Palma Real Estate should record a :.
A : premium on notes receivable.
B : gain on the sale of land.
C : premium on the sale of land.
D : discount on notes receivable.
Answers: 3
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Marion Company issued a $350,000, zero-interest-bearing, 5-year note in exchange for land with a fai...
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