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CONCEPTS IN FED.TAX.,2020-W/ACCESS

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 61P

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Hii ticher please given correct answer general Accounting question

Baker's Bistro borrowed $20,000 on a 9-month, 8% note
from First National Bank to purchase kitchen equipment.
The money was borrowed on March 1, 2024, and the
note matures December 1, 2024. Calculate the cash that
Baker's Bistro must pay on December 1, 2024.

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