Multiple Choice
On December 1,Watson Enterprises signed a $24,000,60-day,4% note payable as replacement of an account payable with Erikson Company.What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)
A) $0
B) $80
C) $320
D) $960
E) $160
Correct Answer:
Verified
Correct Answer:
Verified
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