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Business, 28.08.2019 04:00 yialefi

On september 1, 2010, lowe co. issued a note payable to national bank in the amount of $600,000, bearing interest at 12%, and payable in three equal annual principal payments of $200,000. on this date, the bank's prime rate was 11%. the first payment for interest and principal was made on september 1, 2011. at december 31, 2011, lowe should record accrued interest payable ofa. $24,000.b. $22,000.c. $16,000.d. $14,667.

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