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On January 1 , 2 0 2 1 , Eagle Company borrows $ 1 0 0 , 0 0 0 cash by signing a four

On January 1,2021, Eagle Company borrows $100,000 cash by signing a four-year, 7% installment note. The note requires four equal payments of $29,523, consisting of accrued interest and principal on December 31 of each year from 2021 through 2024.

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