Ware Company borrowed $10,000 on September 1, 2007 from the National Bank. Ware agreed to pay interest annually at the rate of 6% per year. The note issued by Ware carried an 18-month term. Based on this information the amount of interest expense appearing on Ware’s 2007 income statement would be
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Monday, 18 May 2015
Ware Company borrowed $10,000 on September 1, 2007 from the National Bank. Ware agreed to pay interest annually at the rate of 6% per year.
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