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Could you also possibly explain how you get your numbers? I'm very confused, especially with Interest Expense, thank you! 2016 Sep. 1 Purchased equipment costing
Could you also possibly explain how you get your numbers? I'm very confused, especially with Interest Expense, thank you!
2016 Sep. 1 Purchased equipment costing $270,000 by issuing a nine-year, 7% note payable. The note requires annual principal payments of $30,000 plus interest each Sep. 1. Accrued interest on the note payable. Dec. 31 2017 Sep. 1 Dec. 31 Paid the first installment on the note. Accrued interest on the note payableStep by Step Solution
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