Business, 07.06.2021 02:10 redthangracing
On January 1, 2021, the Merit Group issued to its bank a $38 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $9.417 million annually include interest at the rate of 7.6%. Required: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021?
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On January 1, 2021, the Merit Group issued to its bank a $38 million, five-year installment note to...
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