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Business, 24.02.2020 19:32 myalee1419

On September 1, 2018, Able Company purchased a building from Regal Corporation by paying $240,000 cash and issuing a one-year note payable for the balance of the purchase price. Interest on the note is stated at an annual rate of 6% and is paid at maturity. In its December 31, 2018, balance sheet, Able correctly presented the note and interest payable as follows: Interest payable $ 4,100 Notes payable, 6%, due September 1, 2019 $ 205,000 How much must Able pay Regal Corporation on September 1, 2019, when the note matures

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On September 1, 2018, Able Company purchased a building from Regal Corporation by paying $240,000 ca...
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