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3-b. How much of the first payment goes to interest expense and how much goes to reducing the carrying value of the loan? (Ro(The following information applies to the questions displayed below.) On January 1, 2018, Gundy Enterprises purchases an offi

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Answer #1

3b) calculate following

Interest expense Reducing in carrying value
First payment 170000*7%*1/12 = 991.67 1973.84-991.67 = 982.17
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