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Business, 22.04.2020 03:46 shikiaanthony

On September 1, 2019, Coral Equipment signed a one-year 8% interest-bearing note payable for $50,000. Assuming that Coral Equipment maintains its books on a calendar year basis, the amount of interest expense that should be reported on the 2020 income statement for this note would be :

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On September 1, 2019, Coral Equipment signed a one-year 8% interest-bearing note payable for $50,000...
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