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stich3 [128]
2 years ago
6

8. Allen took out a three-year, 8%, $100,000 loan on March 31, 2021. Interest is due upon maturity of the loan. How much interes

t will Allen pay in 2021.
Business
1 answer:
Oksi-84 [34.3K]2 years ago
3 0

Answer:

Debit Interest Expense and credit Interest Payable for $6,000.

Explanation:

$100,000 × 8% × 9/12 = $6,000.

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Answer:

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Answer:

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