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7.5 Accounting for a Note Payable. Assume that on December 31, 2017, The Coca-Cola Company borrows money from a consortium of banks by issuing a
7.5 Accounting for a Note Payable. Assume that on December 31, 2017, The Coca-Cola Company borrows money from a consortium of banks by issuing a $900 million promissory note. The note matures in four years on December 31, 2021, and pays 3% interest once a year on December 31. The consortium transfers $867.331 million (rounded) to Coca-Cola, implying that the bank expects a 4% return on the note. 7.5 Accounting for a Note Payable. Assume that on December 31, 2017, The Coca-Cola Company borrows money from a consortium of banks by issuing a $900 million promissory note. The note matures in four years on December 31, 2021, and pays 3% interest once a year on December 31. The consortium transfers $867.331 million (rounded) to Coca-Cola, implying that the bank expects a 4% return on the note. 7.5 Accounting for a Note Payable. Assume that on December 31, 2017, The Coca-Cola Company borrows money from a consortium of banks by issuing a $900 million promissory note. The note matures in four years on December 31, 2021, and pays 3% interest once a year on December 31. The consortium transfers $867.331 million (rounded) to Coca-Cola, implying that the bank expects a 4% return on the note. 7.5 Accounting for a Note Payable. Assume that on December 31, 2017, The Coca-Cola Company borrows money from a consortium of banks by issuing a $900 million promissory note. The note matures in four years on December 31, 2021, and pays 3% interest once a year on December 31. The consortium transfers $867.331 million (rounded) to Coca-Cola, implying that the bank expects a 4% return on the
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