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On December 31,2015,Bumpy Corporation Borrowed $80,000 by Signing a 12

Question 47

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On December 31,2015,Bumpy Corporation borrowed $80,000 by signing a 12% installment note that is to be repaid in 8 annual payments,the first of which is due on December 31,2016. On December 31,2015,Bumpy Corporation borrowed $80,000 by signing a 12% installment note that is to be repaid in 8 annual payments,the first of which is due on December 31,2016.

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