Business & Finance Assignment | Custom Assignment Help
December 11th, 2019
On September 1, 2010, Lowe Co. issued a note payable to National Bank in the amount of $600,000, bearing interest at 12%, and payable in three equal annual principal payments of $200,000. On this date, the bank’s prime rate was 11%. The first payment for interest and principal was made on September 1, 2011. At December 31, 2011, Lowe should record accrued interest payable of