Question: On January 1 , 2 0 2 4 , the Merit Group issued to its bank a $ 4 0 million, five - year installment
On January the Merit Group issued to its bank a $ million, fiveyear installment note to be paid in five equal payments at the end of each year. Installment payments of $ million annually include interest at the rate of
Required:
What would be the amounts related to the note that Merit would report in its statement of cash flows for the year ended December
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