Need accounting help with a company that borrowed $100,000

Nov 11th, 2015
Price: $5 USD

Question description

A company borrowed $100,000 on July 1, 2010 and agreed to pay back $115,000 on July 1, 2013. What amount would be shown as interest expense on the company's annual income statement on December 31, 2012?

Tutor Answer

(Top Tutor) Daniel C.
School: Rice University

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Nov 11th, 2015
"Thanks, good work"
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