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Your Company borrowed $50,000 on October 1, 2019. The loan was for 18-months and the interest rate was 6%. Both interest and principal are payable

Your Company borrowed $50,000 on October 1, 2019. The loan was for 18-months and the interest rate was 6%. Both interest and principal are payable at maturity. How is receiving the loan proceeds on October 1 best classified?

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