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What the amount of principal repayment included in december

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On January 1, 2021, Fleming Company borrowed $10,000 cash from the First Trust Bank by issuing a five-year 5% term note. The principal and interest are repaid by making annual payments beginning on December 31, 2021. The annual payment on the loan was $2,500.

Problem 1: The amount of principal repayment included in the 12/31/2022 payment is?

Reference no: EM132879163

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