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On September 30, ABC Co. borrowed $1,000,000 on a 9% note payable. ABC paid the first of four quarterly payments of $264,200 when due on
On September 30, ABC Co. borrowed $1,000,000 on a 9% note payable. ABC paid the first of four quarterly payments of $264,200 when due on December 30. In its December 31 balance sheet, what amount should ABC report as note payable?
$825,800
$750,000
$758,300
$735,800
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