Bear, Inc. issued a note payable. The market rate of interest was greater than the stated rate.

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Bear, Inc. issued a note payable. The market rate of interest was greater than the stated rate. What happened?

the cash received was greater the maturity value of the note.

the note was issued at a discount.

the note was issued at par.

the note was issued at a premium.

Related Book For answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Posted Date: Dec 21, 2023 01:56 AM

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Bear, Inc. issued a note payable. The market rate of interest was greater than the stated rate.

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