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Business, 18.09.2019 01:00 gbrightwell

The creditors of chester company agree to accept promissory notes for the amount of its indebtedness with a proviso that two-thirds of the annual profits must be applied to their liquidation. how should these notes be reported on the balance sheet of the issuing company? give a reason for your answer.

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The creditors of chester company agree to accept promissory notes for the amount of its indebtedness...
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