Business, 27.07.2021 23:30, richdakid26

A company has taken a bank loan of $200,000 in December and will make its only payment for interest when the note comes due six months later. The total interest for the six months will be $12,000. On the December income statement, the accountant reported an interest expense of $2,000. This action was the result of which accounting principle/guideline?

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A company has taken a bank loan of $200,000 in December and will make its only payment for interest...