Solution-Calculate amount Janes should report interest

Calculate amount Janes should report interest expense

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Question - Jane's Donut Co. borrowed $209,000 on January 1, 2018, and signed a two-year note bearing interest at 14%. Interest is payable in full at maturity on January 1, 2020. In connection with this note, calculate amount Jane's should report interest expense at December 31, 2018?

a. $58,520.

b. $62,031.

c. $0.

d. $29,260.

Reference no: EM132502817

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Calculate amount Janes should report interest expense

Reference no: EM132502817

Reference no: EM132502817

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