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On December 31, 2020, Nash Company signed a $1, 199,900 note to Crane Bank. The market interest rate at that time was 11%. The stated

On December 31, 2020, Nash Company signed a $1, 199,900 note to Crane Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matur...

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