The note payable to Royce Computers (transactions 04 for 170,000 and 07 for 26,000 )...
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Accounting
The note payable to Royce Computers (transactions 04 for 170,000 and 07 for 26,000 ) is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year.
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