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07-10-2022
Business

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president company purchased merchandise from captain corporation on september 30, 2024. payment was made in the form of a noninterest-bearing note requiring president to make six annual payments of $6,600 on each september 30, beginning on september 30, 2027. required: calculate the amount at which president should record the note payable and corresponding purchase on september 30, 2024, assuming that an interest rate of 10% properly reflects the time value of money in this situation.

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