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3. Bastion signed a 5-year note payable on January 1, 2018, of $10,000. The note requires annual principal payments each December 31 of $2,000 plus

3. Bastion signed a 5-year note payable on January 1, 2018, of $10,000. The note requires annual principal payments each December 31 of $2,000 plus interest at 15%. The entry to record the annual payment on December 31, 2019, includes

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