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

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rorneff

Business Finance

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?

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Explanation & Answer


Anonymous
Awesome! Perfect study aid.

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