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Perfect Seed Inc. signed a $20,000 note requiring 24 monthly payments of principal and interest...

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Accounting

Perfect Seed Inc. signed a $20,000 note requiring 24 monthly payments of principal and interest of $947.47 with an annual rate of interest of 12%. After the second monthly payment is made, what is the amount of loan payable to be reported on the balance sheet (rounded to dollars)?

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