Question: Norton Corp. does not elect the fair value option for recording its financial liabilities. The discount resulting from the determination of a note payables present

Norton Corp. does not elect the fair value option for recording its financial liabilities. The discount resulting from the determination of a note payable’s present value should be reported on its balance sheet as a(n)

a. Addition to the face amount of the note.

b. Deferred charge separate from the note.

c. Deferred credit separate from the note.

d. Direct reduction from the face amount of the note.

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