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Question: Trader Trust accepts a $500,000 non-interest bearing 10-year note from Coffee Co. in exchange for Cash on 1/1/16. Coffee Co. promises to repay $500,000 at maturity. The market rate on 1/1/16 was 4%. What is the carrying value of this note on the balance sheet on 12/31/16?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M93068621

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