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Compute the Debit to Interest expense

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Question - Emma Company purchased a machine from Noah Corporation on October 31, 2016. In payment for the $223,400 purchase, Emma issued a one-year installment note to be paid in equal monthly payments of $19,849 at the end of each month. The payments include interest at an annual rate of 12%. When recording the December 31, 2016 payment, compute the Debit to Interest expense?

Reference no: EM132643067

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