Accounts Payable and Accrued Liabilities
|12 Months Ended|
Dec. 31, 2016
|Notes to Financial Statements|
|Note 6. Accounts Payable, Accrued Liabilities||
Accounts payable and accrued expenses (rounded in millions) consisted of the following:
On February 28, 2016 a note payable was issued to a finance company for a vendor invoice, which totaled $135,000. A down payment of $13,500 was made with remaining payments of nine monthly installments of approximately $14,000 (annual effective interest rate approximately 5%). The note was fully paid on November 28, 2016. Total interest expense under the note was approximately $2,400 for the year ended December 31, 2016, which was recorded in the accompanying statement of operations.
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://www.xbrl.org/2003/role/presentationRef