On November 1, 2020 Eagle Corp. signed a $300,000, 8 month,…
On November 1, 2020 Eagle Corp. signed a $300,000, 8 month, 8% note payable. At due date, the principal and interest will be paid. Calculate the amount of interest expense that Eagle Corp. should report on its income statement for the year ended December 31, 2020. (round to the nearest dollar) Answer: $_______
Read DetailsOn October 1, 2020 Eagle Corp. signed a $400,000, 9 month, 8…
On October 1, 2020 Eagle Corp. signed a $400,000, 9 month, 8% note payable. At due date, the principal and interest will be paid. Calculate the amount of interest expense that Eagle Corp. should report on its income statement for the year ended December 31, 2020. (round to the nearest dollar) Answer: $_______
Read Details