A long-term note for $60,000 was taken out from the bank. The loan is for two years
Fantastic news! We've Found the answer you've been seeking!
Question:
A long-term note for $60,000 was taken out from the bank. The loan is for two years with an interest rate of 6% repayable at maturity.
June 30: Book the interest for the first half of the year on the loan you took out on March 6.
Show your work.
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
Posted Date: