Craig borrowed $350,000 on October 1, 2014 and is required to pay $360,000 on 3/1/15. What amount

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Craig borrowed $350,000 on October 1, 2014 and is required to pay $360,000 on 3/1/15.
What amount is the note payable recorded at on October 1, 2014 and how much interest is recognized from October 1 to December 31, 2014?

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Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Question Posted: Feb 16, 2018 07:50 AM

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Craig borrowed $350,000 on October 1, 2014 and is required to pay $360,000 on 3/1/15. What amount

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Total amount Borrowed on October2014 till March 2015 that is for 5 mont...View the full answer

Intermediate Accounting

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