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Business, 20.03.2020 02:02 kayleegeise

On May 1, Lectric Industries issued 9-month notes in the amount of $57.6 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: (Enter your answers in millions rounded to 1 decimal place (i. e., 10,100,000 should be entered as 10.1).)

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On May 1, Lectric Industries issued 9-month notes in the amount of $57.6 million. Interest is payabl...
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