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What the Interest Expense for the year ended December

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Problem - At December 31, 2018, before any year-end adjustments, Karr Company's Insurance Expense account had a balance of $1,450 and its Prepaid Insurance account had a balance of $3,800. It was determined that $3,000 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be?

Manning Corporation issued a one-year, 9%, P200,000 note on April 30, 2018. What the Interest Expense for the year ended December 31, 2018?

Reference no: EM132940830

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