Question: Please help me What amount would ABC report as 2010 interest expense ? ABC Corp. frequently borrows from the bank in order to maintain sufficient

Please help me

What amount would ABC report as 2010 interest expense ? ABC Corp. frequently borrows from the bank in order to maintain sufficient operating cash. The following loans were at a 12% interest rate, with interest payable at maturity. ABC repaid each loan on its scheduled maturity date. Date of loan Amount Maturity date Term of loan 11/1/2009 5,000 10/31/2010 1 year 2/1/2010 15,000 7/31/2010 6 months 5/1/2010 8,000 1/31/2011 9 months ABC records interest expense when the loans are repaid. As a result, interest expense of 1,500 was recorded in 2010

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