Question
On August 1, a $54,000, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest
On August 1, a $54,000, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest be paid each year on July 31. The present value of an annuity factor for 3 years at 8% is 2.5771. The payment each July 31 will be:
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Auditing Assurance Services And Forensics A Comprehensive Approach
Authors: Felix I. Lessambo
1st Edition
3319905201, 9783319905204
