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Barry Bergan is the owner of Elephant Delivery Service. Recently, Barry paid interest of $3,000 on a personal loan of $40,000 that he used to begin the business. Should Elephant Delivery Service...

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Barry Bergan is the owner of Elephant Delivery Service. Recently, Barry paid interest of $3,000 on a personal loan of $40,000 that he used to begin the business. Should Elephant Delivery Service record the interest payment? Explain.

Answered Same Day Dec 24, 2021

Solution

Robert answered on Dec 24 2021
130 Votes
Ba
y Bergan is the owner of Elephant Delivery Service. Recently, Ba
y paid
interest of $3,000 on a personal loan of $40,000 that he used to begin the
usiness. Should Elephant Delivery Service record the interest payment? Explain.
As ma
y took the personal loan and used in started the...
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