Business, 01.07.2020 17:01 Katelyn1236

On October 1, 2019, Donna Equipment signed a one-year, 7% interest-bearing note payable for $46,000. Assuming that Donna Equipment maintains its books on a calendar year basis, how much interest expense should be reported in the 2020 income statement

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On October 1, 2019, Donna Equipment signed a one-year, 7% interest-bearing note payable for $46,000....