Exercise A Algo Recognizing accrued interest expense LO
Abardeen Corporation borrowed $ from the bank on October Year The note had an percent annual rate of interest and matured on March Year Interest and principal were paid in cash on the maturity date.
Required
a What amount of cash did Abardeen pay for interest in Year
b What amount of interest expense was recognized on the Year income statement? Do not round intermediate calculations. Round your answer to the nearest dollar amount.
c What amount of total liabilities was reported on the December Year balance sheet? Do not round intermediate calculations. Round your answer to the nearest dollar amount.
d What total amount of cash was paid to the bank on March Year for principal and interest?
e What amount of interest expense was reported on the Year income statement? Do not round intermediate calculations. Round your answer to the nearest dollar amount.
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