The Pita Pit borrowed $100,000 on November 1, 2024, and signed a six-month note bearing...
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Accounting
The Pita Pit borrowed $100,000 on November 1, 2024, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2025. In connection with this note, what is the amount of interest expense that Pita Pit should report in its income statement for the year ended December 31, 2024
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