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Accounting Help for discounted books?
If we discount out a receivable book over time and are writing portions of that book out, does this still impact the asset account?
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- The TaxpayerLv 72 years agoFavorite Answer
depends upon how the receivable is recorded to start with. Is it recorded at the discount rate?
- 2 years ago
It was recorded at that discounted rate, we debit the contra asset account over time.
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