On January 1, Year 6, Kiri Company signed a six-month, non-interest-bearing note payable for $170,000and received $162,800from Year 6, what amount should Kiri record for interest expense, and what is the net carrying value of the note?

 

Answer rating: 100% (QA)

Since the note payable is noninterestbearing there is no explicit interest expense to be recorded ov... View the full answer