What amount of interest has accrued as of april thirty, Financial Accounting

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What amount of interest has accrued as of april thirty

Problem

Horowitz Consulting Inc. obtained a bank note with an annual interest rate of 5% on April 1, 2022. The loan was for $250,000, maturing in two years on March 31, 2024 at which point all interest and principal will be paid. What amount, if any, of interest has accrued as of April 30, 2022?

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Financial Accounting: What amount of interest has accrued as of april thirty

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Financial Accounting: What amount of interest has accrued as of april thirty

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