Business, 20.10.2021 14:00 buky0910p6db44

Jole Co. lent $10,000 to a major supplier in exchange for a noninterest-bearing note due in three years and a contract to purchase a fixed amount of merchandise from the supplier at a 10% discount from prevailing market prices over the next three years. The market rate for a note of this type is 10%. On issuing the note, Jole should record : a. Both discount on note receivable and deferred charge. (36%)
b. Discount on note receivable only. (44%)
c. Deferred charge only. (5%)
d. Neither discount on note receivable nor deferred charge. (13%)

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Jole Co. lent $10,000 to a major supplier in exchange for a noninterest-bearing note due in three ye...

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