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On January 1, 2017 , Stanley Hart Stores, Inc., borrowed $400,000 and immediately received the full amount. The note carried 3% interest rate and requires

On January 1, 2017 , Stanley Hart Stores, Inc., borrowed $400,000 and immediately received the full amount. The note carried 3% interest rate and requires annual payments of $73,839 beginning on December 31, 2017. The note matures on December 31, 2022. The company's fiscal year ends on December 31. The payment includes interest and principal

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