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What is interest expense for the year ended

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Question - Utah Corp took out a 5% note for $500,000 on January 1, 20X4. The note is to be paid back in installments of $100,000 at the end of each year for the next 5 years.

How will this note be reflected on the balance sheet at December 31, 20X4?

What is interest expense for the year ended 20X4?

Reference no: EM132726518

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