Janes donut co. borrowed 200000 on january 1 2009 and, Ask an Expert

Accounting

Jane's Donut Co. borrowed $200,000 on January 1, 2009, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2011. In connection with this note, what amount should Jane's report as interest expense at December 31, 2009?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400607

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