Brief Exercise 8-3 (Algo) Determine interest expense (LOB-2) On July 1, Atlantic Cruise Lines issues a $100,000, eight month, 6.25% note, Interest is payable at maturity: What is the amount of interest expense that the company would record in a year-end adjusting entry on December 31 02 2 W N S 13 a 54 % 25 ^ 6 MacBook Pro & 27 E R T Y U D X H command C LL F V > G > 00 8 9 -Q 0 11 P G H J K B N M V- H J command A