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1. Compute the amount of interest during 2021, 2022, and 2023 for the following note receivable: On May 31, 2021, Topeka Bank loaned $180,000
1. Compute the amount of interest during 2021, 2022, and 2023 for the following note receivable: On May 31, 2021, Topeka Bank loaned $180,000 to Carl Abbott on a two-year, 15% note. 2. Which party has a(n): (a) note receivable? (b) note payable? (c) interest revenue? (d) interest expense? 3. How much in total would Topeka Bank collect if Carl Abbott paid off the note early on November 30, 2021? 1. Compute the amount of interest during 2021, 2022, and 2023 for the following note receivable: On May 31, 2021, Topeka Bank loaned $180,000 to Carl Abbott on a two-year, 15% note. (Round the interest amounts to the nearest whole dollar.) Year 2021 2022 2023 Amount of interest 2. Which party has a(n): (a) note receivable, (b) note payable, (c) interest revenue, (d) interest expense? a. Note receivable b. Note payable c. Interest revenue d. Interest expense 3. How much in total would Topeka Bank collect if Carl Abbott paid off the note early on November 30, 2021? (Round the interest to the nearest whole dollar.) If Carl Abbott paid off the note on November 30, 2021, the amount paid would be
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