Question
On September 1, 2020, ABC Company issued a note payable to Fidelity Bank in the amount of $2,400,000, bearing interest at 10%, and payable in
On September 1, 2020, ABC Company issued a note payable to Fidelity Bank in the amount of $2,400,000, bearing interest at 10%, and payable in three equal annual principal payments of $800,000. The first payment for interest and principal was made on September 1, 2021. At December 31, 2021, ABC should record accrued interest payable of?
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The Successful Audit New Ways To Reduce Risk Exposure And Increase Efficiency
Authors: Felix Pomeranz
1st Edition
1556233914, 978-1556233913
