When a long-term note payable is issued,the entire amount should be initially recorded as a long-term note payable.

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When a long-term note payable is issued, the entire amount should be recorded as a long-term note payable initially. This means that the full amount of the note should be recorded as a liability on the balance sheet at the time it is issued, even if only a portion of the funds have been received. As payments are made and interest is accrued, the balance of the note will decrease, but it will remain classified as a long-term liability until it is fully repaid.

When a Long-Term Note Payable Is Issued,the Entire Amount Should