What is maturity value of interest payable yearly

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Entries for zero interest bearing notes. On jan 1 2013 McPean Company makes the two following acquisitions:

1. Purchases land having a fair value of $3000000 by issuing a 5 year, zero interest bearing promissory note in the face amout of $505,518.

2. Pirchases equiemr by issuing a 6% 8 year promissory note having a maturity value of $400,0oo interest payable annually.

Reference no: EM13126224

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