Calculate the amount of interest expense related

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Franklin Co. borrowed $60,000 from a bank on June 1, 2007 and agreed to pay it back in ten months at an interest rate of 14% per year.

Calculate the amount of interest expense related to this loan reported in Franklin Co.'s 2008 income statement. Do not use decimals in your answer.

Reference no: EM13864521

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Calculate the amount of interest expense related : Franklin Co. borrowed $60,000 from a bank on June 1, 2007 and agreed to pay it back in ten months at an interest rate of 14% per year. Calculate the amount of interest expense related to this loan reported in Franklin Co.'s 2008 income statement. Do ..

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