Question: Assume that the $44,000 note payable plus all accrued interest are paid in full on June 30, year 3. What portion of the total interest

  1. Assume that the $44,000 note payable plus all accrued interest are paid in full on June 30, year 3. What portion of the total interest expense associated with this note will be reported in the firm's year 3 income statement?

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