Heres the problem, i just dont know where to get started on it...
Assume that on Dec.1,2005 your company borrowed $14000, a portion of which is to be repaid each year on Nov.30. Specifically your company will make the following principle payments: 2006, $2000; 2007,$3000; 2008,$4000; and 2009,$5000. Show how this loan will be reported in the Dec. 31, 2006 and 2005 balance sheets, assuming that principal payments will be made when required.
Thanks, any help at all is appreciated.
2007-10-17
02:59:09
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5 answers
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asked by
sandee
2