On May 1, Affiliated Tech, a consumer electronics firm, issued a $700, 000 face value, 6 month zero-interest bearing note to First BanCorp. In determining the amount of cash provided to Affiliated Tech, First BanCorp considered the appropriate interest rate to be 12.439%. a. record the issuance of the note b. amortize the note and accrue periodic interest expense c. record repayment of the
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