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Abardeen Corporation borrowed $ 9 0 , 0 0 0 from the bank on October 1 , Year 1 . The note had an 8

Abardeen Corporation borrowed $90,000 from the bank on October 1, Year 1. The note had an 8 percent annual rate of interest and matured on March 31, Year 2. Interest and principal were paid in cash on the maturity date.
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