Question: !! View Policies Current Attempt in Progress On July 1, 2017, Granville Ltd. borrowed $16,200 by signing a two-year, 4% note payable. The note is

!! View Policies Current Attempt in Progress On July 1, 2017, Granville Ltd. borrowed $16,200 by signing a two-year, 4% note payable. The note is payable in two annual blended principal and interest instalments of $8,589 on June 30. Adjusting journal entries are recorded annually at year end on December 31

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.