Interest paid on a loan from the bank would be included in which section of the income statement? a

Accounting Sep 18, 2020

Interest paid on a loan from the bank would be included in which section of the income statement? a. operating expenses.?c. other revenues and expenses. b. cost of goods sold.?d. net sales.

Expert Solution

Interest paid on a loan from bank would be reported in the section of operating expenses in the income statement. Most companies uses the indirect method, in that case the interest expenses will be inter in the companies net income.

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