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Nicole thinks that her business, Nicole's Getaway Spa (NGS), is doing really well and she...

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Accounting

Nicole thinks that her business, Nicole's Getaway Spa (NGS), is doing really well and she is planning a large expansion. With such a large expansion, Nicole will need to finance some of it using debt. She signed a one-year note payable with the bank for $57,000 with a 6 percent interest rate. The note was issued October 1,2020; interest is payable annually; and the end of Nicole's accounting period is December 31.
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