2. Jamal borrowed $100,000 on July 1, 2018, and signed a four-year note bearing interest at 8%. Interest is payable in full at maturity on June 30, 2020. Jamal should report interest expense at December 31, 2018, of: a. $0 b. $4,000 c. $8,000 d. $32,000

b. $4,000

Explanation:

Amount of Loan = $100,000

Interest rate = 8% per year

Interest rate = 8% x ( 6 / 12 )

Interest rate = 4% every six months

On December 31 six months has been passed after issuance.

Interest Expense = $100,000 x 4%

Interest Expense = $4,000

Jamal should report $4,000 as interest expense. So correct answer is b. $4,000.

answer: b. false

the staff is a set of five horizontal lines and four spaces which represent a different musical pitch. the lines and the spaces are numbered from bottom to top, the bottom line is the first line and the fifth line is the line on the top. the notes on the top of the staff (fifth line) have a higher pitch than a note at the bottom of the staff.