campbellkruger
15.04.2021 •
Business
On September 1, 2017, Looper Co. issued a note payable to National Bank in the amount of $1,200,000, bearing interest at 12%, and payable in three equal annual principal payments of $400,000 plus interest. (In other words, MORE than $400,000 will be paid in cash.) The first payment for interest and principal was made on September 1, 2018. At December 31, 2018, Looper should record accrued interest payable of
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