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Scott Owen of Cruise Consulting explains how to account for convertible note investments, a popular instrument for startups. Convertible notes are essentially debt that must eventually be repaid, typically within a 12 to 24 month timeframe. They have historically been the preferred choice for angel investments, though newer options like safe notes have emerged. In practice, investors often extend or restructure convertible notes due to the fluctuating nature of startup funding, allowing for some flexibility. However, it's important to remember that there is usually a payment date associated with these notes, emphasizing their debt nature.
