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Concord should record accrued interest payable of

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On September 1, 2017, Concord Corporation issued a note payable to National Bank in the amount of $1580000, bearing interest at 9%, and payable in three equal annual principal payments of $510000. On this date, the bank's prime rate was 8%. The first payment for interest and principal was made on September 1, 2018. At December 31, 2018, Concord should record accrued interest payable of ?

Reference no: EM132346192

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