Boat Loan Notes
by on Friday, August 20th, 2010 | No Comments
Financial Accounting Issues. Help please?
I cannot seem to come up with the right answer to this question. I need to find the interest expense to record it in the magazine. Any help would be great. Johnson borrowed $ 150,000 at an annual interest rate of 12 percent on April 1, 2010, to expand its Boat Storage facilities. The loan requires Johnson to pay quarterly interest until the note is repaid in three years. Johnson paid quarterly interest July 01 and October 01.
the answer above does not work
The Holder in Due Course Blues song
