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On August 1 , 2 0 1 9 , the company borrowed $ 6 , 0 0 0 , 0 0 0 for six years

On August 1,2019, the company borrowed $6,000,000 for six years at 6%. The interest is due and payable every year and the first interest payment took place on August 1,2020. The principle is due and payable in six equal installments and the first principal payment took place on August 1,2020. The company makes its interest and principal payments on a timely basis.
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