The most recent financial statements for Shinoda Manufacturing Co. are shown below: Income Statement Balance Sheet Sales $ 63,900 Current assets $ 26,500 Debt $ 42,700 Costs 44,830 Fixed assets 79,400 Equity 63,200 Taxable income $ 19,070 Total $
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On January 1, 2017, Eagle borrows $23,000 cash by signing a four-year, 9% installment note. The note requires four equal payments of $7,099, consisting of accrued interest and principal on December 31 of each year from 2017 through 2020.
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