Start purchasing the needed inventory

Reference no: EM133500822

Question: On June 15, 2022, PPI took out a special short-term note to finance the purchase of additional inventory needed for a large contract with a new client. The new, non-interest bearing loan was for $730,000 and must be repaid within 7 months of issuance. After the loan paperwork was signed, the bank transferred $678,900 to PPI and the company was able to start purchasing the needed inventory.

Reference no: EM133500822

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