The corporation borrowed $100,000 at 9% interest for 6 months from the bank on August 1st,...

 

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The corporation borrowed $100,000 at 9% interest for 6 months from the bank on August 1st, this year. They will pay off the borrowing and all interest when the note matures in 6 months. When the accountant prepares their December 31st balance sheet, at what amount will they report for interest payable? h The corporation borrowed $100,000 at 9% interest for 6 months from the bank on August 1st, this year. They will pay off the borrowing and all interest when the note matures in 6 months. When the accountant prepares their December 31st balance sheet, at what amount will they report for interest payable? h

Answer rating: 100% (QA)

The interest payable that the corporation should report on their December 31 balance sheet will be 4... View the full answer