Question
The Company has a loan due to the bank that requires monthly payments of interest based on a 360 day calendar year. Please answer the
The Company has a loan due to the bank that requires monthly payments of interest based on a 360 day calendar year.
Please answer the following questions:
Debt Balance at September 1st: $2,000,000
Annual Cash Interest Rate: 9.00% (compounded on a monthly basis)
Annual Paid-In-Kind Interest Rate: 2.00% (compounded and added to principle on a monthly basis)
What are the correct journal entries to record for September and October?
How much cash interest will the Company be required to pay for September and October?
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Slutin Given Debt Blne t Setember 1st 2000000 nnul sh Interest Rte 900 munded n mnthly bsis ...
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Employment Law for Human Resource Practice
Authors: David J. Walsh
4th edition
1111972192, 978-1133710820, 1133710824, 978-1111972196
