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Exercise 13-2 Determining accrued interest in various situations [L013-2] On July 1, 2018, Ross-Livermore Industries issued nine-month not nine-month notes In the amount of $600

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Exercise 13-2 Determining accrued interest in various situations [L013-2] On July 1, 2018, Ross-Livermore Industries issued nine-month not nine-month notes In the amount of $600 milion, 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 1o)) Fiscal Year Ends: Principal December 31, 2018 600x September 30, 2018S 600 October 31, 2018 January 31, 201 S 00x Time Interest Expense million IS 6001x million million

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