Steve industries purchased a supply of electronic components from wolf corporation on October 31, 2023....
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Accounting
Steve industries purchased a supply of electronic components from wolf corporation on October 31, 2023. in payment for the $900000 purchase, Steve issue a 1-year installment notes to be paid in equal monthly payments of $79964 at the end of each month. the payments include interest rate of 12%. what is the amount of interest expense that steve will report in income statement for year ended 12/31/2023?
$18644
$16273
$17925
$17290
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