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On October 1, 2019, a company acquired land by issuing a two-year note, 12%, P4,000,000 note payable. Principal is due on October 31, 2021 but
On October 1, 2019, a company acquired land by issuing a two-year note, 12%, P4,000,000 note payable. Principal is due on October 31, 2021 but interests are due annually every October 1. Boxer uses the calendar year as its accounting period. How much is the interest expense recognized in 2019
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Management Accounting A Decision Emphasis
Authors: Don T. DeCoster, Eldon L. Schafer, Mary T. Ziebell
4th Edition
0471637130, 978-0471637134
