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John Doe's company has an outstanding 2 1/2-year (30 months) loan balance of $10,000 on January 1, 2019 for a loan he took on January
John Doe's company has an outstanding 2 1/2-year (30 months) loan balance of $10,000 on January 1, 2019 for a loan he took on January 1, 2017. The principal and interest (rate is 10%) is payable on July 1, 2019. How much interest expense relating to this loan will John Doe report on his December 31, 2019 income statement?
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Accounting Reform In Transition And Developing Economies
Authors: Robert W. McGee
1st Edition
0387257071, 9780387257075
