Practice Problem 2
21. Tony's Landscaping Service borrowed $5,000 from a bank by signing a 12%, one-year note on October 1, 2000. What is the amount of interest expense recognized on December 31, 2000? a. $600. b. $150. c. $200. d. $0. 22. Tony's Landscaping Service borrowed $5,000 from a bank by signing a 12%, one-year note on October 1, 2000. ................
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