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Received $100,000 cash in exchange for issuance of common stock. Secured a $300,000 five-year installment loan from State Bank. The interest rate is 5 percent

Received $100,000 cash in exchange for issuance of common stock. Secured a $300,000 five-year installment loan from State Bank. The interest rate is 5 percent and annual payments are $69,292. Purchase...

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