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Calculate and record the interest owes for the months

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Question 1: Sunny had to borrow money from the bank to purchase the new equipment and she took a loan from the Community Trust Bank on January 1st in the amount of $15,000 Her loan interest is 10% per year. She has not made the journal entry to accrue the interest since she borrowed the money in January. Calculate and record the interest that she owes for the months of January through May. She will not pay it until December 31st, 2020.

Reference no: EM132505350

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