Business, 05.05.2020 06:55 laywah4

On September 1, 2020, Vaughn Manufacturing issued a note payable to National Bank in the amount of $1500000, bearing interest at 8%, and payable in three equal annual principal payments of $510000. On this date, the bank's prime rate was 7%. The first payment for interest and principal was made on September 1, 2021. At December 31, 2021, Vaughn should record accrued interest payable of:

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On September 1, 2020, Vaughn Manufacturing issued a note payable to National Bank in the amount of $...

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