Question: Multiple Choice Question Gomez Company borrowed $ 1 0 , 0 0 0 from the State Bank on April 1 , Year 1 . The

Multiple Choice Question
Gomez Company borrowed $10,000 from the State Bank on April 1, Year 1. The one-year note has a 6% rate of interest. On the Year 1 income statement, the amount of interest expense reported by Gomez is:
$450
$600
zero
$150
Multiple Choice Question Gomez Company borrowed $10,000 from the State Bank

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