The installment note payable bears an annual interest rate of 10%. Semiannual payments of $6,756.43 are due
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The installment note payable bears an annual interest rate of 10%. Semiannual payments of $6,756.43 are due each June 30 and December 31 and include principal and accrued interest. These payments will reduce the Installment note balance by $5,220 in 2012.
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Related Book For 
Financial Reporting And Analysis
ISBN: 9780078110863
5th Edition
Authors: Lawrence Revsine, Daniel Collins
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