Johnsons borrowed 150000 at a 12 percent annual interest, Ask an Expert

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Johnson's borrowed $150,000 at a 12 percent annual interest rate on April 1, 2010, to expand its boat storage facility. The loan requires Johnson's to pay the interest quarterly until the note is repaid in three years. Johnson's paid quarterly interest on July 1 and October 1.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9448939

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