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Compute and accrue the interest expense on pig e bank note

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Amos purchases a new truck and trailer for the business. The truck costs $35,000 and the trailer $10,000. He finances both the truck and the trailer through Pig E Bank at a rate of 8% for 5 years. The first monthly payment is due on July 16.

Problem 1: Compute and accrue the interest expense on the Pig E Bank note. You will have to accrue the interest that has accrued from 6/17 - 6/30.

Reference no: EM133009733

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