Question: BVA Corporation exchanged a $ 9 6 , 0 0 0 , noninterest - bearing. 3 - year note for land with a fair value

BVA Corporation exchanged a $96,000, noninterest-bearing. 3-year note for land with a fair value of $60,000. The $36,000 difference represents:
2 points
01:01:30
Multiple Choice
References
A loss on the purchase of land
A premium on notes payable
Interest expense to be recorded over three years
None of the choices are correct

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