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Rainier Company borrowed $630,000 for six months. The annual interest rate on the loan was 13 percent. Rainiers fiscal year ends on December at. Rainier

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Rainier Company borrowed $630,000 for six months. The annual interest rate on the loan was 13 percent. Rainiers fiscal year ends on December at. Rainier borrowed the $630,000 one month phor to the stort of its current fiscal year and paid back the $630,000 plus interest five months into its current ficcol year. How much interest expense, if any, would Rainser report at the end of its iast fiscaf year and or the end of is current niscai year

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