Assume that on July 1,2012,Togo's issues a $2 million,one-year note.Interest is payable at maturity.Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions:

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The Answer of Assume that on July 1,2012,Togo's issues a $2 million,one-year note.Interest is payable at maturity.Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions:

Assume That on July 1,2012,Togo's Issues a $2 Million,one-Year Note