The balance of interest expense for the loan as of December 31, 2022 is: $450,000.
<h3>Interest expenses </h3>
Loan was outstanding months= November 2022 to December 2022
Using this formula
Interest expenses=Amount borrowed×Interest rate×2/12
Let plug in the formula
Interest expenses= $30,000,000×9%×2/12
Interest expenses=$450,000
Therefore the interest expenses is $450,000.
Learn more about interest expenses here:brainly.com/question/14697209
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