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How should the loan be presented on upcoming balance sheet

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Question - Ruiz Corporation borrowed $10 million to finance the construction of a new building. The interest rate on the loan is 6%.  The loan requires that one-tenth of the principal amount borrowed and accrued interest are to be repaid each year on the anniversary of the borrowing. If the borrowing occurred one month prior to year-end, how should the loan be presented on the upcoming balance sheet?

Reference no: EM132715840

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