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Posted on Oct 01, 2024

On January 1 , 2 0 2 4 , Sanhill Company issued for Cash a $ 1 , 1 0 0 , 0 0 0

On January

1, 2024,

Sanhill Company issued for Cash a $

1, 100, 000 3 -

year note bearing annual interest at

8 %

to Tamarisk, INc. The market rate of interest for a note of similiar risk is

9 % .

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

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