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Madison Company issued an interest bearing note payable with a face value of $13.200 and a stated interest rate of 8% to Metropolitan Bank on

Madison Company issued an interest bearing note payable with a face value of $13.200 and a stated interest rate of 8% to Metropolitan Bank on August 1. Year 1. The note canled a one-year term. Based on this information alone, what is the amount of total liabilities appearing on Madison's balance sheet as of December 31. Year 12 Multiple Choice $13,816 O $13,640 $14256 $13200

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