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  3. Study Set
    Fundamental Financial Accounting Concepts Study Set 2
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    Exam 9: Accounting for Current Liabilities and Payroll
  5. Question
    Wilson Company Issued a $33,000, 8% Note Payable, with a One
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Wilson Company Issued a $33,000, 8% Note Payable, with a One

Question 8

Question 8

Essay

Wilson Company issued a $33,000, 8% note payable, with a one year term on September 1, 2012. What amount of interest expense will be recognized on the income statement for 2012? 2013?

Correct Answer:

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Interest expense for 2012 = $8...

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