On September 30, World Co. borrowed $1,000,000 on a 9% note payable. World paid the...
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Accounting
On September 30, World Co. borrowed $1,000,000 on a 9% note payable. World paid the first of four quarterly payments of $264,200 when due on December 30. In its income statement for the year, what amount should World report as interest expense? $0 $14,200 $22,500 $30,000
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