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Keesha Co. borrows $250,000 cash on November 1, 2018, by signing a 180-day, 10% note with...

Keesha Co. borrows $250,000 cash on November 1, 2018, by signing a 180-day, 10% note with a face value of $250,000. What is the amount of interest expense in 2018 and 2019 from this note? (Use 360 days a year. Do not round intermediate calculations. Round final answers to the nearest whole dollar.)
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Answer #1

Calculate interest

2018 2019
Amount 250000 250000
Rate 10% 10%
Time 60/360 120/360
Interest expense 4167 8333
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