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Posted on Aug 10, 2024

On January 1 , 2 0 2 4 , Sandhill Company issued for cash a $ 5 6 0 0 0 0 , 5 -

On January

1, 2024,

Sandhill Company issued for cash a $

560000, 5 -

year note bearing annual interest at

10 %

to Miller, Inc. The market rate of interest for a note of similar risk is

12 % .

What cash would have been recorded on the issue date of the note?

Click here to view factor table.

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