Determining amount of expanse of diamond company

Reference no: EM13141550

Diamond company borrowed $500,00 from a bank on Jan. 1, 2007 in order to expand its mining capabilities. the five-year note required annual payment of $ 130,218 and carried an annual interest rate of 9.5%.

What is the amount of expanse Diamond must recognize on its 2008 income statement?

Reference no: EM13141550

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