How much cash did the company receive, Accounting Basics

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How much cash did the company receive

A company must repay the bank $42,000 cash in five years for a loan. The loan agreement specifies 7% interest compounded annually. The present value factor for five years at 7% is 0.7130. How much cash did the company receive from the bank on the day they borrowed this money?

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Accounting Basics: How much cash did the company receive

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Accounting Basics: How much cash did the company receive

Reference No:- TGS0700286

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Determine the new spacing between bright fringes

Q : Slope-intercept form based question

Q : How much does the depreciation deduction reduce

Q : Transversal which forms corresponding angles

Q : How much cash did the company receive

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much cash did the company receive

Reference No:- TGS0700286

Recent Questions Asked Accounting Basics

Q : Determine the new spacing between bright fringes

Q : Slope-intercept form based question

Q : How much does the depreciation deduction reduce

Q : Transversal which forms corresponding angles

Q : How much cash did the company receive

Q : Prepare a statement of retained earnings

Q : Record the total factory payroll

Q : Number of subsets of set

Q : Calculate the net cash

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