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PDtax
PDtax, CPA, MBA
Category: Finance
Satisfied Customers: 4182
Experience:  Tax professional and business consultant for 35 years.
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Accounting term notes called at 97

Customer Question

accounting term for installment notes called at 97
Submitted: 1 year ago.
Category: Finance
Customer: replied 1 year ago.
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Expert:  PDtax replied 1 year ago.

Hi from Just Answer. I'm PDtax, and will assist.

A note called at a discount (97 is less than 100) is a callable bond.

If you recorded the issuance at face, then were able to call them at a discount, the profit is booked to gain on bond redemption as appropriate.

Thanks for asking at Just Answer. Positive feedback is appreciated. I'm PDtax.