Barton Chocolates used a promissory note to borrow $1,150,000 on July 1,2021 , at an...
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Accounting
Barton Chocolates used a promissory note to borrow $1,150,000 on July 1,2021 , at an annual interest rate of 7 percent. The note is to be repaid in yearly installments of $230,000. plus accrued interest, on June 30 of every year until the note is paid in full (on June 30 . 2026). Show how the results of this transaction would be reported in a classified balance sheet prepared as of December 31, 2021. (Do not round Intermedlate colculatlons.)
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