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Business, 14.12.2019 01:31 nanagardiner08
On september 1, year 1, west company borrowed $50,000 from valley bank. west agreed to pay interest annually at the rate of 6% per year. the note issued by west carried an 18-month term. west company has a calendar year-end. what is the amount of interest expense that will be reported on west's income statement for year 1?
multiple choice
a. $0
b. $1,000
c. $300
d. $750
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Answers: 2
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On september 1, year 1, west company borrowed $50,000 from valley bank. west agreed to pay interest...
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