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Madison Company issued an interest-bearing note payable with a face amount of $9,600 and a stated interest rate of % to the Metropolitan Bank on
Madison Company issued an interest-bearing note payable with a face amount of $9,600 and a stated interest rate of % to the Metropolitan Bank on August 1, Year 1. The note cemed a one-year term. Based on this information alone, the amount of total abilities appearing on Madison's Year 1 balance sheet would be Mu Choice $10.048 $9.920 $10,368 $9,600
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