Question: On October 1 , 2 0 2 2 , Donna Equipment signed a one - year, 9 % interest - bearing note payable for $

On October 1,2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $48,000. If Donna Equipment maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement?
Multiple Choice
$2,160.
$3,240.
$1,080.
$4,320.

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