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winn co. signs a 60 day note payable for a $15,000 copy machine with an interest rate of 8%. winn will record total interest expense of:

Answer :

The total interest expense that should be recorded is $200.

Given that,

  • winn co. signs a 60 day note payable for a $15,000 copy machine with an interest rate of 8%.
  • Here we assume 360 days in a year.

Based on the above information, the calculation is as follows:

= $15,000 ×8% × 60 ÷ 360

= $200

Therefore we can conclude that the total interest expense that should be recorded is $200.

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