Business, 24.02.2020 22:41 esid906

On September 1, 2017, Waterway Industries issued a note payable to National Bank in the amount of $1520000, bearing interest at 10%, and payable in three equal annual principal payments of $530000. On this date, the bank's prime rate was 9%. The first payment for interest and principal was made on September 1, 2018. At December 31, 2018, Waterway should record accrued interest payable of $27700. $47700. $33000. $53000.

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On September 1, 2017, Waterway Industries issued a note payable to National Bank in the amount of $1...

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