Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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What is the interest expense

Transcribed Image Text:On June 30, 2009, Sideways Movers had $243,000 in current assets and
$211,000 in current liabilities. On August 1, 2009, Sideways received $50,000
from an issue of promissory notes that will mature in 2012. The notes pay
interest on February 1 at an annual rate of 6 percent. Sideways' fiscal year ends
on December 31. What is the interest expense for December 31?
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