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Preston Corporation Issues a $3,000 Note to Fulton Corporation on March

Question 108

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Preston Corporation issues a $3,000 note to Fulton Corporation on March 1,which carries interest at an annual rate of 5%.Interest is payable when the note matures on June 30.What entry will Fulton make at its year-end,April 30,if interest on the note has not previously been accrued? Preston Corporation issues a $3,000 note to Fulton Corporation on March 1,which carries interest at an annual rate of 5%.Interest is payable when the note matures on June 30.What entry will Fulton make at its year-end,April 30,if interest on the note has not previously been accrued? A) Option A B) Option B C) Option C D) Option D


A) Option A
B) Option B
C) Option C
D) Option D

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