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The following cases are independent and relate to short-term notes payable. Principal and interest are to be paid at maturity in all cases. Fill in
The following cases are independent and relate to short-term notes payable. Principal and interest are to be paid at maturity in all cases. Fill in the missing items in the table below. If no number is required, enter zero. Items marked XXXX need not be computed. Note to be interest Payable 2015 Interest Repaid 12/31/14 Expense Case Principal Interest Rate Note Given 1. $60,000 8% 9/30/14 9/30/15 2. $50,000 10% 12/31/14 3/1/15 XXXX 3. $80,000 8% $3,200 $1,600 4. $40,000 4/1/14 4/1/15 $2,700 XXXX 5. 12% 12/1/14 3/1/15 XXXX $2,100 6. 8% 10/1/14 6/1/15 $1,800 XXXX
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