Solved: The loan and interest must be paid back on march 31 2019 as, Accounting Basics

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The loan and interest must be paid back on march 31 2019 as

Allen Inc. took out a 1-year, 8%, $100,000 loan on March 31, 2018. Interest is due upon maturity of the loan. The loan and interest must be paid back on March 31, 2019. As of December 31, 2018, what amount, if any, should Allen Inc. report for interest payable?

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Accounting Basics: The loan and interest must be paid back on march 31 2019 as

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Accounting Basics: The loan and interest must be paid back on march 31 2019 as

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