On November 1, Year 1, Noble Company borrowed $100,000 from South Bank and signed a 6 , six month note payable, all due at maturity The interest on this loan is stated separately At December 31, Year 1, Noble Company's overall liability for this loan amounts to Multiple Choice $103,000 $101,000 $100,000 $102,000 On November 1, Year 1, Noble Company borrowed $104,000 from South Bank and signed a 6 , six month note payable, all due at maturity The interest on this loan is stated separately How much interest expense will Noble recognize on this note in Year 2 Multiple Choice $3,120 $1,560 $6,240 $2,080

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Question: On November 1, Year 1, Noble Company borrowed $100,000 from South Bank and signed a 6%, six-month note payable, all due at maturity. The interest

On November 1, Year 1, Noble Company borrowed $100,000 from South Bank and signed a 6%, six-month note payable, all due at maturity. The interest on this loan is stated separately.

At December 31, Year 1, Noble Company's overall liability for this loan amounts to:

Multiple Choice

$103,000.
$101,000.
$100,000.
$102,000.

On November 1, Year 1, Noble Company borrowed $104,000 from South Bank and signed a 6%, six-month note payable, all due at maturity. The interest on this loan is stated separately.

How much interest expense will Noble recognize on this note in Year 2?

Multiple Choice

$3,120.
$1,560.
$6,240.
$2,080.

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