Monthly Archives: October 2021

Notes Receivable Definition, Journal Entries & Example

by wadminw on October 27, 2021

Each Square account has potentially different terms based on its history and trends. When notes are sold with conditions, the company creates contingent liability, and it is disclosed in the notes to financial statements. As mentioned depreciation tax shield calculation earlier, if Anchor used IFRS the $480 discount amount would be amortized using the effective […]

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