On January 1, 2011, the Montgomery Company agreed to purchase a building by making six payments. The
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1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2011?
2. How much interest expense on this note will Montgomery recognize in 2011?
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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