On July 1, 20X6, the company borrowed $20,000 and must repay principal and accrued interest of 10% a year on July 1, 20X9. Based on this information, what would be the Interest Expense in the Adjustments column?

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MidCo is a calendar year company. Below is its partial worksheet for, for the year ended December 31, 20X8. Use the data to answer question. Accounts Receivable Allow. For Doubtful Accounts Supplies On Hand Wages Payable Notes Payable Bad Debt Expense Supplies Expense Wage Expense Unadjusted trial balance Cr Dr 50,000 2,000 1,500 4,000 20,000 Adjustments Cr Dr 600 1,000 Adjusted trial balance Dr Cr MidCo is a calendar year company. Below is its partial worksheet for, for the year ended December 31, 20X8. Use the data to answer question. Accounts Receivable Allow. For Doubtful Accounts Supplies On Hand Wages Payable Notes Payable Bad Debt Expense Supplies Expense Wage Expense Unadjusted trial balance Cr Dr 50,000 2,000 1,500 4,000 20,000 Adjustments Cr Dr 600 1,000 Adjusted trial balance Dr Cr

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Answer To calculate the interest expense in the adjustments col... View the full answer