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On June 30, 2013, the Esquire Company sold some merchandise to a customer for $62,000. In payment, Esquire agreed to accept a 6% note requiring
On June 30, 2013, the Esquire Company sold some merchandise to a customer for $62,000. In payment, Esquire agreed to accept a 6% note requiring the payment of interest and principal on March 31, 2014. The 6% rate is appropriate in this situation.
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