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The loan stipulates that the interest rate is 6 payable on

Question - Jordon's incorporated borrowed $130,000 from First star bank on Oct. 1, 2016. The loan stipulates that the interest rate is 6%; payable on the last day of each month, beginning October 31, 2016. How much will be reported as interest payable?

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Accounting Basics: The loan stipulates that the interest rate is 6 payable on

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Accounting Basics: The loan stipulates that the interest rate is 6 payable on

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