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.
Kleagle would debit notes receivable when the note is collected.
Knowledge Check 0 1 Kleagle accepted a three -

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