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what is the credit recorded at the end of february related to this loan? On February 1, Hendrickson Inc. borrowed $180,000 from a bank to
what is the credit recorded at the end of february related to this loan?
On February 1, Hendrickson Inc. borrowed $180,000 from a bank to purchase a new piece of equipment. Hendrickson is not required to pay any interest to the bank until the end of the loan in January 31 of next year. The interest rate is an annual rate of 6%, or a monthly rate of 0.05%. What is the credit recorded at the end of February related to this loan? Interest Expense Interest Payable Stock Cash Loan Payable Step by Step Solution
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