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Andrews corporation liability account balances at June 30 2013, included a 10 percent note payable. the note is date October 1; 2011, and carried an
Andrews corporation liability account balances at June 30 2013, included a 10 percent note payable. the note is date October 1; 2011, and carried an original principal amount of $600,000. The note is payable inthree equal annual payments of $200,ooo plus interest. The first interest and principal payment was made october 1 2012. In Andrews June 30 balance sheet what amount should be reported as interest payable for this note?
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