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What is the book value of note on r january balance sheet

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Question - R Company was indebted to A Inc. at January 1, 2014. The note called for a $25,000 payment to be made on December 31, 2014 and also on December 31, 2015. The note was non-interest bearing yet 10% was the prevailing rate at the time the note was issued. What is the book value of the note on R's January 1, 2014 balance sheet (rounded)?

Reference no: EM133171557

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