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On Feb 1, 2020, a bank loan was secured for $200,000 USD with an amortization period of 4 years at an interest rate of 6%
- On Feb 1, 2020, a bank loan was secured for $200,000 USD with an amortization period of 4 years at an interest rate of 6% annum (paid monthly) with principal payments due once annually on Jan 31st of each year. What is the balance sheet and income statement impact at Year ended 31 Dec 2020
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Advanced Accounting
Authors: Debra Jeter, Paul Chaney
6th edition
978-1118742945, 111874294X, 978-1119045946, 1119045940, 978-1119119364
