Homework Answers
Answer: Avery mus accrue $200 of interest expense.
Explanation:
Accrued interest for 6 months to be calculated at December 31,2013.
6 months [July 1,2013 to Dec 31,2013]]
So, Interest expense = $10,000 x 4% x (6/12) = $200.
Therefore, Avery mus accrue $200 of interest expense.
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