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7 Not complete Marked out of 2.08 Flag question Analyzing Interest-Bearing and Noninterest-Bearing Notes Consider the following three separate scenarios for a one-year, $250,000 note
7 Not complete Marked out of 2.08 Flag question Analyzing Interest-Bearing and Noninterest-Bearing Notes Consider the following three separate scenarios for a one-year, $250,000 note payable issued on September 1, 2020. Complete the table, using the straight-line method to amortize any discount on note payable. Note: Round your answers to the nearest whole dollar. Cash received upon note issuance $250,000 Note payable $250,000 Note payable 12% Interest due at maturity 10% interest due at maturity Noninterest-bearing 12% market rate 10% market rate Borrower's FYE*: Dec. 31 Borrower's FYE: Nov. 30 250,000 $ $ $250,000 Note payable 12% market rate Borrower's FYE: Dec. 31 250,000 $ 0 Cash paid at maturity date 0 0 0 Total interest paid (cash) 0 0 0 Interest expense in fiscal year 2020 0 0 0 Interest expense in fiscal year 2021 0 0 0 Amount of liabilities reported on FYE 2020 balance sheet: Note payable (net) 0 0 0 Interest payable 0 0 0 *FYE: Fiscal year-end
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