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please explain the last two parts how is it $1000 and how is it $52,333.33 your company obtains a short term loon on Seplember Ist

please explain the last two parts
how is it $1000
and how is it $52,333.33 image text in transcribed
your company obtains a short term loon on Seplember Ist , 2019 to Contes! costs to purchase myentory. The loan is for $50,000, the annual interest rate is 8 %. The loan is for 7 months and matures on March 31st, 2020 The journal entry on September 1st 2019 is DR. Cash 350,000 c Noles payable $50,000 Assumme a December 31 escolar end, the joxnal entry your company does on December 31, 2019 to come mterest is DR Interest Expense 5132326 CR Interest Payable s 1,333.33 How much interest o ne does NOX Company record on March 31st, 2020 When the loan matures ? $1,000 How much total cash will your company pay back on March 31st, 2020? 852,333.33

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