Sunland Company borrowed $1650000 from BankTwo on January 1, 2019 in order to expand its...
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Accounting
Sunland Company borrowed $1650000 from BankTwo on January 1, 2019 in order to expand its mining capabilities. The 5-year note required annual payments of $429720 and carried an annual interest rate of 9.5%. What is the balance in the notes payable account at December 31, 2020 after the annual payment?
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