Solution-Solve the net amount of the note payable as of

Solve the net amount of the note payable as of december

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Reference no: EM132889163

Problem 1: On October 1, 20X1, a company purchased a piece of land by agreeing to pay the seller $450,000 in two years. If the company had borrowed the money from a bank to pay the seller immediately, management estimates the bank would have required interest of 9%. Calculate the net amount of the note payable as of December 31, 20X1 (rounded to the nearest dollar). (PV of $1, and PVA of $1)

Multiple Choice

Option 1: $387,278.

Option 2: $388,045.

Option 3: $438,936.

Option 4: $439,875.

Reference no: EM132889163

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Solve the net amount of the note payable as of december

Reference no: EM132889163

Reference no: EM132889163

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