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26-06-2020
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On January 1, 2018, Allgood Company purchased equipment and signed a sixminusyear mortgage note for $ 110 comma 000 at 15%. The note will be paid in equal annual installments of $ 29 comma 066, beginning January 1, 2019. Calculate the portion of interest expense paid on the third installment. (Round your answer to the nearest whole number.) A. $ 16 comma 500

Respuesta :

jepessoa jepessoa

03-07-2020

Answer:

$12,447 (rounded to the nearest dollar)

Explanation:

I prepared an amortization schedule on an excel spreadsheet.

the interest expense paid in the third yearly payment = $12,447 (rounded to the nearest dollar)

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