Business, 18.04.2020 02:42 merunikitty1226

West Company borrowed $44,000 on September 1, Year 1 from the Valley Bank. West agreed to pay interest annually at the rate of 6% per year. The note issued by West carried an 18-month term. Based on this information the amount of interest expense appearing on West's Year 1 income statement would be:

A. $264
B. $660
C. $880
D. $0

Answers: 1

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West Company borrowed $44,000 on September 1, Year 1 from the Valley Bank. West agreed to pay intere...

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