on July 1, 2023, the company borrowed $ 4 million from a bank (or another company) The note requires principal and interest at 15% to be paid on March 31, 2023. How much is the interest expense you will pay at the end of 2023? Can you please show me the journal entry at December 31, 2023? and at December 31, 2024 (assuming no other interest expenses occur)?

Answer rating: 100% (QA)

To calculate the interest expense at the end of 2023 we can use the formula for simple inter... View the full answer