Accounting Assignment | College Homework Help

Blossom Company borrowed $2380000 from U.S. Bank on January 1, 2019 in order to expand its mining capabilities. The 5-year note required annual payments of $619839 and carried an annual interest rate of 9.5%. What is the amount of expense Blossom must recognize on its 2020 income statement?

$148765
$167755
$226100
$188695

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