Firms interest payable account
Problem: Martin & Associates borrowed $5,000 on April 1, 2003 at 8% interest with both principal and interest due on March 31, 2004. How much should be in the firm's interest payable account at December 31, 2003?
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Martin & Associates borrowed $5,000 on April 1, 2003 at 8% interest with both principal and interest due on March 31, 2004. How much should be in the firm's interest payable account at December 31, 2003?
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