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On October 1, 2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $48,000....

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Accounting

On October 1, 2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $48,000. If Donna Equipment maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement? Multiple Choice $1,080. $4,320. $3,240. $2,160.
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On October 1,2022, Donna Equipment signed a one-year, 9% interest-bearing note payable for $48,000. If Donna Equipment maintains its books on a calendar year basis, how much interest expense should be reported in the 2023 income statement? Mukiple Choice 31.080 $4,320. 53,240 $2160

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