Solved: What is the carrying value of the note, Accounting Basics

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What is the carrying value of the note

Solve the below problem:

Q: On June 1, 2013, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $460,000 and a discount rate of 7%. Assuming straight-line amortization of the discount, what is the carrying value of the note as of September 30, 2013?

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Accounting Basics: What is the carrying value of the note

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Accounting Basics: What is the carrying value of the note

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