Question: Knowledge Check 0 1 Kleagle accepted a three - year, noninterest - bearing note in exchange for merchandise sold. Which of the following is true?

Knowledge Check 01
Kleagle accepted a three-year, noninterest-bearing note in exchange for merchandise sold. Which of the following is true?
Multiple Choice
Kleagle would credit a discount on note receivable when recording the sale.
Kleagle would debit interest revenue over the life of the note.
Knowledge Check 0 1 Kleagle accepted a three -

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