What amount should star record accrued interest payable, Accounting Basics

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What amount should star record accrued interest payable

On September 1, 2007, Star Corp, issued a note payable to Federal Bank in the amount of $450,000. The note had an interest rate of 12% and called three equal annual principal payments of $150,000. The first payment for interest and principal was made on Septemner 1, 2008. At December 31,2008, what amount should Star record accrued interest payable?

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Accounting Basics: What amount should star record accrued interest payable

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Accounting Basics: What amount should star record accrued interest payable

Reference No:- TGS0708326

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Recent Questions Asked Accounting Basics

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Q : What amount should star record accrued interest payable

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should star record accrued interest payable

Reference No:- TGS0708326

Recent Questions Asked Accounting Basics

Q : Why the yummy foods purchased a two-year fire

Q : What was the cost of supplies cal farms purchased

Q : Epartment of curtis corporation reports

Q : How should davis record the sale of merchandise

Q : What amount should star record accrued interest payable

Q : Discuss how this increase in ownership affects

Q : Explain the total value of the finished goods inventory

Q : Explain the total manufacturing cost assigned to job

Q : How to flexible budget would compare budgeted costs

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