Brief Exercise 8-3(Algo) Determine interest expense (LO8-2) On July 1, Bahama Excursions issues...

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Accounting

Brief Exercise 8-3(Algo) Determine interest expense (LO8-2)
On July 1, Bahama Excursions issues a $100,000, eight-month, 6% note. Interest is payable at maturity. What is the amount of interest
expense that the company would record in a year-end adjusting entry on December 31?
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