Rio Grande Company obtains ($ 25,000) in cash by signing a (9 %, 6)-month, ($ 25,000) note
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Rio Grande Company obtains \(\$ 25,000\) in cash by signing a \(9 \%, 6\)-month, \(\$ 25,000\) note payable to First Bank on July 1. Rio Grande's fiscal year ends on September 30. What information should be reported for the note payable in the annual financial statements?
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Related Book For
Financial Accounting Tools For Business Decision Making
ISBN: 9780471169192
1st Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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