On October 1, 2022, Deebo Mfg. got a 12-month loan of $400,000, bearing interest at 10% per
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On October 1, 2022, Deebo Mfg. got a 12-month loan of $400,000, bearing interest at 10% per year. Interest is payable in full at maturity on September 30, 2023. In connection with this loan, how much interest payable should be reported at December 31, 2022: (Round your final answer to the nearest whole dollar.)
Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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