Interest and principal were paid in cash on maturity date


Classic Corporation borrowed $90,000 from the bank on November 1, 2012. The note had an 8 percent annual rate of interest and matured on April 30, 2013. Interest and principal were paid in cash on the maturity date.

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Accounting Basics: Interest and principal were paid in cash on maturity date
Reference No:- TGS071045

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