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5. On July 1, 2018, Ross-Livermore Industries issued nine-month notes in the amount of S900 million. Interest is payable at maturity Required Determine the amount
5. On July 1, 2018, Ross-Livermore Industries issued nine-month notes in the amount of S900 million. Interest is payable at maturity Required Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) iscal Year Ends December 31. 2018 September 30, 2018 October 31. 2018 January 31, 2019 Principal (million xRate xTime-Interest Exper $800 $800 $800 $800 x12 %x x10 %x x3 %x x6 %x
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