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Gunderson, Inc. borrowed $100,000 from 1st Star Bank on Oct 1, 2016. The loan stipulates that the interest rate is 6%. Interest is to be

Gunderson, Inc. borrowed $100,000 from 1st Star Bank on Oct 1, 2016. The loan stipulates that the interest rate is 6%. Interest is to be paid semi-annually, on March 30 and September 30 of each year. How much will Gunderson, Inc. report on its December 31, 2017 balance sheet for interest payable for this loan?

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