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Ace Electronics Accepted a Promissory Note from Fenstermaker,who Promised to Pay

Question 129

Multiple Choice

Ace Electronics accepted a promissory note from Fenstermaker,who promised to pay Ace $2,000 plus 6% interest at the end of six months.When Ace first accepts the note,it should record ________.


A) a note payable of $2,000
B) a note receivable of $2,000
C) a note payable of $2,060
D) a note receivable of $2,060

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