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On November 30, 2018, Edgmont Co. borrowed $18,000 on a one-year, 13 percent note payable. What amounts would Edgmont Co. report for the note
On November 30, 2018, Edgmont Co. borrowed $18,000 on a one-year, 13 percent note payable. What amounts would Edgmont Co. report for the note payable and the related interest payable on its balance sheet at February 28, 2019, and on its income statement for the year ended February 28, 2019? Start by selecting the accounts and entering the amounts relating to the note payable on the partial balance sheet Edgmont Co.. Balance Sheet (partial) February 28, 2019 Assets Liabilities (Partial) Show the impact the note payable has on the partial income statement. Revenue Edgmont Co. Income Statement (partial) Year Ended February 28, 2019 Expenses
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