On September 1, 1998, Dyer Company borrowed cash on a $100,000 note payable, principal and interest due

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On September 1, 1998, Dyer Company borrowed cash on a $100,000 note payable, principal and interest due in one year. Assume the going rate of interest was 12 percent per year for this particular level of risk. The accounting period ends December 31.
Required: Complete the following tabulation; round to the nearest dollar.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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