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explain Ex. On 1/1/A, SLB Co. borrows $???, signing an 'installment note payable' with a face amount of $90k. The note obligates SLB to repay
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Ex. On 1/1/A, SLB Co. borrows \$???, signing an 'installment note payable' with a face amount of $90k. The note obligates SLB to repay the $90k in 3 equal annual installments, plus 10% interest, beginning on 12/31/A. The market interest rate for similar obligations is 8%. Entries? [pv(n=1,i=8%)39k+pv(n=2,i=8%)36k+pv(n=3,i=8%)33k=93171.77]Step by Step Solution
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