Farris Company borrowed $800,000 from BankTwo on January 1, 2017, in order to expand its mining capabilities. The five-year note required annual payments of $208,349 and carried an annual interest rate of 8.5%. What is the amount of expense Farris must recognize on its 2018 income statement
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Farris Company borrowed $800,000 from BankTwo on January 1, 2017, in order to expand its mining capa...
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