On September 1, 1998, Dyer Company borrowed cash on a $100,000 note payable, principal and interest due
Question:
Required: Complete the following tabulation; round to the nearest dollar.
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Assuming the Note Was Noninterest- Interest- Bearing Bearing 1. Cash received 2. Cash paid at maturity date 3. Total interest paid (cash) 4. Interest expense in 1998 5. Interest expense in 1999 6. Amount of liabilities reported on 1998 balance sheet: Note payable (net) Interest payable 7. Principal amount 8. Face amount 9. Maturity value 10. Stated interest rate 11. Yield or effective interest rate
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Assuming the Note Was Interest Noninterest Bearing Bearing 1 Cash received 100000 89286 2 Cash paid ...View the full answer
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