A company took out a nine-month bank loan of $9,000 on January 1, 2019. The...
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Accounting
A company took out a nine-month bank loan of $9,000 on January 1, 2019. The bank charges an annual interest rate of 6%. The loan interest and principal will be repaid all together on October 1, 2019. How much is the interest expense on January 31, 2019?
Select one:
a. $20
b. $45
c. $0
d. $60
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