Building and land payments


The Building and Land payments are to the same company. A total of $12,000 was due at signing. The remaining is put on a note payable to Star Financial Bank. The note is to be repaid monthly and has an 8% compounding interest rate. Each monthly payment is $840.98.They can be paid in one lump sum. They were listed separately for your convenience. This is a 15 year note.

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Accounting Basics: Building and land payments
Reference No:- TGS095272

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