Question
4.5 pts On January 1, 2017, ABC Company borrowed $100,000 from the bank. The loan is a 10-year note payable that requires semi-annual payments of
4.5 pts On January 1, 2017, ABC Company borrowed $100,000 from the bank. The loan is a 10-year note payable that requires semi-annual payments of $12,000 every June 30 and December 31, beginning June 30, 2017. Assume the loan has a 20% interest rate, compounded semi-annually. Calculate the amount of the note payable at December 31, 2017 that would be classified as a current liability.
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IT Auditing Using Controls To Protect Information Assets
Authors: Chris Davis, Mike Schiller, Kevin Wheeler
3rd Edition
1260453227, 978-1260453225
