What interest expense is reported in 2007


Badgers Inc. issued a 4-month note in the amount of $60,000 on 12/16/07 with an annual rate of 8% interest. Principal and interest are to be paid 4/16/08. What interest expense is reported in 2007?

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Accounting Basics: What interest expense is reported in 2007
Reference No:- TGS071900

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