An asset is acquired using a noninterest-bearing note payable for $100,000 due in two years. Management records the purchase with a debit to the asset for $100,000 and a credit to notes payable for $100,000. Which of the following statements is correct?A. Management has properly recorded the transaction. B. Management has not considered the present value of the note in recording the asset. C. Management should not record the asset until the note has been paid. D. Management should record the note for more than $100,000 to account for the underlying interest.

The answer is A. Management has properly recorded the transaction.

Explanation:

According to the given data Since the note is non interest bearing, no interest will be paid on the bond.

Therefore, asset will be debited and note payable will be credited by the full amount.

Therefore, the Management has properly recorded the transaction.

The joural entry would be as follows:

                        Debit            Credit

asset              $100,000

note payable                    $100,000

steering wheels are always situated on the left side of the car.

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explanation:

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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