Business, 06.08.2019 01:20 maariaaa10

On july 1, 2018, ross-livermore industries issued nine-month notes in the amount of $400 million. interest is payable at maturity. required: determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions:
fiscal year ends: principal x rate x time = interest expensedecember 31, 2018 $400 x 12 % x = millionseptember 30, 2018 $400 x 10 % x = millionoctober 31, 2018 $400 x 9 % x = millionjanuary 31, 2019 $400 x 6 % x = million

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On july 1, 2018, ross-livermore industries issued nine-month notes in the amount of $400 million. in...

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