Question
Sielert Corporation borrowed $1,500,000 from National Bank on May 31, 2019. The three-year, 7% note required annual payments of $571,575 beginning May 31, 2020. Interest
Sielert Corporation borrowed $1,500,000 from National Bank on May 31, 2019. The three-year, 7% note required annual payments of $571,575 beginning May 31, 2020. Interest expense for the year ended December 31, 2019, was
A.$70,000.B.$0.C.$61,250.D.$105,000.
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
