What is the amount of interest expense recognized


On July 8, Alton Co isued an 480,000, 6%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends July 31. What is the amount of interest expense recognized by Alton in the current fiscal year?

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Accounting Basics: What is the amount of interest expense recognized
Reference No:- TGS081720

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