Solution
Year end | Cash paid | Interest expense | Change in carrying value | Carrying value |
1/1/2021 | $ 708,357 | |||
6/30/2021 | $ 26,600 | $ 28,334* | $ 1,734 | $ 710,091 |
12/31/2021 | $ 26,600 | $ 28,404** | $ 1,804 | $ 711,895 |
*708357 x 4%
**710091 x 4%
Interest paid in cash = 760000 x 3.5%= $26600.
I need help! Thanks Check my work Required information Part 1 of 2 Problem 9-6A Prepare...
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