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On January 1, Year 1, The Palms borrowed $200,000 to purchase a warehouse by agreeing to a 8%, 5-year note with the bank. Payments of $50,091.29 are due at the end of each year. The first payment will be made on December 31, Year 1.
-How much will the company still owe on the loan at the end of Year 2? (Round your final answer to the nearest dollar. )
Paid-in Capital
The amount of money that a company receives from selling its stock directly to investors, above the par value of the shares.
Real Estate Transactions
Deals involving the sale, purchase, or exchange of property between parties.
Cash Dividends
Payments made by a company to its shareholders from its profits or reserves.
Date of Record
The date of record is a cut-off date set by a corporation to determine which shareholders are eligible to receive a dividend or distribution.
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