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Business, 25.03.2020 03:45 allisonklinger1786

Bill Darby started Darby Company on January 1, 2018. The company experienced the following events during its first year of operation: Earned $16,200 of cash revenue. Borrowed $12,000 cash from the bank. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, 2018, had a one-year term and an 8 percent annual interest rate. Required What is the amount of interest expense to record for 2018

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