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On September 1, 2018, Select Company borrowed $600,000 from a bank and signed a 12%, six-month note payable, with interest on the note due
On September 1, 2018, Select Company borrowed $600,000 from a bank and signed a 12%, six-month note payable, with interest on the note due at maturity. The total amount of the current liability (including interest payable) for this loan that appears in Select Company's balance sheet at December 31, 2018, is Select one: a.$636,000. b.$672,000. c.$600,000 d.$624,000
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Managerial Accounting
Authors: James Jiambalvo
5th edition
1118078764, 978-1118078761
