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How do you work this Transaction? The note payable relating to the june 2, and...

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Accounting

How do you work this Transaction?

The note payable relating to the june 2, and 10 transactions is a five year note, with interest at the rate of 12% annually. The June interest expense from this note is $1,031.33

June 2: A down payment of $32,000 in cash was made on additional computer equipment that was purchased for $160,000. A five-year note was executed by Byte for the balance.

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