On October 1,2019,Donna Equipment signed a one-year,8% interest-bearing note payable for $50,000.Assuming that Donna Equipment maintains its books on a calendar year basis,how much interest expense should be reported in the 2020 income statement?
A)$1,000.
B)$2,000.
C)$3,000.
D)$4,000.

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The Answer of On October 1,2019,Donna Equipment signed a one-year,8% interest-bearing note payable for $50,000.Assuming that Donna Equipment maintains its books on a calendar year basis,how much interest expense should be reported in the 2020 income statement?
A)$1,000.
B)$2,000.
C)$3,000.
D)$4,000.

On October 1,2019,Donna Equipment Signed a One-Year,8% Interest-Bearing Note Payable