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Required information [The following information applies to the questions displayed below.) On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its

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Required information [The following information applies to the questions displayed below.) On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $350,100. The interest rate charged by the bank was 6.00%. The bank made the loan on a discount basis. c. What is the amount of the current liability related to this loan to be shown in the June 30, 2019, balance sheet? Current liability

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