Homework Answers
Answer 1 (a):
Given that:
Interest expense for the year was = $0.5 million
Answer 2 :
Working:
Notes payable balance as Dec 31, 2016 = Beginning balance of notes payable + Borrowings - Repayments
= 4.2 + 2.6 - 2.4
= $4.4 million
Interest payable as given = $0.4 million
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I need to solve for 1 and 2 please
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