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I need help writing about this scenario. This is for ACC-308 Peyton Approved scenario. Business Financing Information: Use this information to calculate interest rates and insurance information, and to assess their impact on the companyâ€™s financial obligations: 6% interest note payable was made on Jan 31, 2017, and is due Feb 1, 2019. 5-year loan was made on June 1, 2016. Terms are 7.5% annual rate, interest only until due date. Insurance: Annual policy covers 12 months, purchased in February, covering March 2017 to February 2018. No monthly adjustments have been made.
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