Abc company purchased equipment on july 1,2010 and gave a four month , 8% note...
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Accounting
Abc company purchased equipment on july 1,2010 and gave a four month , 8% note with a face valve of 30000. How much interest exspense will be recognized on the income statement for the year ended december 31,2010. What effect does the repayment of the note plus interest have on the statement of cash flows for 2010? Round interest exspense to nearest dollar.
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