Compute the total interest accrued on notes payable owed by by Biowow, Inc. as of December 31,
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Question:
Compute the total interest accrued on notes payable owed by by Biowow, Inc. as of December 31, 2019 (assume a 365-day year). Information for Biowow's notes payable are below. Lender Issuance Date Principal Coupon Rate (%)
Term Tillens 11/13/2019 $40,000 8 120 days
Zappa 12/09/2019 $32,000 6 90 day
Kumar 12/19/2019 $36,000 4 60 days
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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