Abardeen Corporation borrowed $90,000 from the bank on October 1, 2016. The note had an 8 percent annual rate of interest and ma
tured on March 31, 2017. Interest and principal were paid in cash on the maturity date. A.What amount of cash did Abardeen pay for interest in 2016?
B. What amount of interest expense was recognized on the 2016 income statement?
C.What amount of total liabilities was reported on the December 31, 2016, balance sheet?
D.What total amount of cash was paid to the bank on March 31, 2017, for principal and interest?
E.What amount of interest expense was reported on the 2017 income statement?
W's do not count against your overall GPA and thus, do no harm grade-wise. However, W's can run you at risk of losing financial aid. Schools have what's known as satisfactory academic progress which means that you'll need to be completing your courses for credit.