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Cucina Corp. signed a new installment note on January 1, 2018, and deposited the proceeds of $57,000 in its bank account. The note has a
Cucina Corp. signed a new installment note on January 1, 2018, and deposited the proceeds of $57,000 in its bank account. The note has a 3-year term, compounds 4 percent interest annually, and requires an annual installment payment on December 31. Cucina Corp. has a December 31 year-end and adjusts its accounts only at year-end.
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