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Blue Spruce Corporation, a publicly-traded company, agreed to loan money to another company. On July 1 , 2023 , the company received a five-year promissory
Blue Spruce Corporation, a publicly-traded company, agreed to loan money to another company. On July 1 , 2023 , the company received a five-year promissory note with a face value of $522,000, paying interest at a face rate of 5% on July 1 each year. The note was issued to yield an effective interest rate of 6%. Blue Spruce used the effective interest method of amortization for discounts or premiums, and the company's year-end is September 30 Blue Spruce Corporation, a publicly-traded company, agreed to loan money to another company. On July 1 , 2023 , the company received a five-year promissory note with a face value of $522,000, paying interest at a face rate of 5% on July 1 each year. The note was issued to yield an effective interest rate of 6%. Blue Spruce used the effective interest method of amortization for discounts or premiums, and the company's year-end is September 30
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