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BIll's Pancake Co. borrowed $193,000 on January 1, 2016, and signed a two-year note bearing Interest at 11%. Interest Is payable in full at maturity

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BIll's Pancake Co. borrowed $193,000 on January 1, 2016, and signed a two-year note bearing Interest at 11%. Interest Is payable in full at maturity on January 1, 2018. In connection with this note, Bill's should report Interest expense at December 31, 2016, in the amount of: $0. $21,230. $42,460. $45,008

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