Multiple Choice
Jane's Donut Co.borrowed $200,000 on January 1,2016,and signed a two-year note bearing interest at 12%.Interest is payable in full at maturity on January 1,2018.In connection with this note,Jane's should report interest expense at December 31,2016,in the amount of:
A) $0.
B) $24,000.
C) $48,000.
D) $50,880.
Correct Answer:
Verified
Correct Answer:
Verified
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