June 18 2014 a company borrows 20000 from a bank with a one, Accounting Basics

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June 18 2014 a company borrows 20000 from a bank with a one

Problem

June 18, 2014 a company borrows $20,000 from a bank with a one year term and an annual interest rate of 6%. Interest and principal are due on April 29, 2015. What is the interest expense on December 31, 2014?

What is the total interest expense for 2015?

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Accounting Basics: June 18 2014 a company borrows 20000 from a bank with a one

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Accounting Basics: June 18 2014 a company borrows 20000 from a bank with a one

Reference No:- TGS02686889

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