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How Should Unearned Discounts, Finance Charges, and Interest Included in the Face

Question 77

Multiple Choice

How should unearned discounts, finance charges, and interest included in the face amount of installment accounts receivable be presented in the balance sheet?


A) As a current liability.
B) As a deduction from the related installment accounts receivable.
C) Within the net amount of installment accounts receivable.
D) As an addition to the related installment accounts receivable.

Correct Answer:

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