What is the amount of expanse diamond must recognize


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?

 

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Accounting Basics: What is the amount of expanse diamond must recognize
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