Multiple Choice
On Oct.1,2020,Othello,Inc.signed a 1-year $75,000 note payable from First National Bank.The loan plus 6% interest is to be paid on Sept.30,2021.Othello's year -end is December 31.In its 2020 financial statements Othello will record interest expense of
A) $375.
B) $1,125.
C) $4,500.
D) $75,000.
Correct Answer:
Verified
Correct Answer:
Verified
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