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Answer 2-3 accordingly PLEASE AND THANK YOU!! 1. You are preparing a balance sheet effective on December 31. You have a sprayer which has an

Answer 2-3 accordingly PLEASE AND THANK YOU!!
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1. You are preparing a balance sheet effective on December 31. You have a sprayer which has an annual loan payment due each June 1st. The balance on the loan after the last payment was $5,000 and the interest rate is 10.00%. What is the value of the accrued interest on this loan that should be entered on the balance sheet? (6) Show work for partial credit. 1. $500 2. $208 3. $42 4. cannot be determined

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