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On September 1, 2008, a company borrowed $100,000 from its bank and signed a nine-month note with 9% interest. The principal and interest on the loan are to be paid when the note matures. What is the total amount related to this loan that should be reported under current liabilities on the company's December 31, 2008, balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M976834

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