The company borrowed 30000 on september 1 2013 the


The company borrowed $30,000 on September 1, 2013. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%.

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Accounting Basics: The company borrowed 30000 on september 1 2013 the
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