Use the Information from Cen, Inc -Which Statement Is True Concerning Cen's Interest?
A)Cen Paid a

Multiple Choice

Use the information from Cen, Inc. to answer questions
Cen, Inc. reported the following on its December 31, 2017, balance sheet:
$\begin{array}{lrr}\text { Current liabilities: }&2017&2016\\\hline \text { One-year short-term notes payable, net of discount of } & \$ 9,800 & \$ 6,400 \\\quad \$ 300 \text { and } \$ 400 \text {, respectively } & & \\\text { Accrued interest on notes payable } & 340 & 280 \\\text { Current portion of long-term debt } & 1,250 & 2,340 \\\text { Trade accounts pavable } & 500 & 700\end{array}$

-Which statement is true concerning Cen's interest?

A) Cen paid a total of $60 interest during 2017.
B) Interest was incurred during the year on more than one note.
C) Interest of $3,200 was accrued and paid during 2017.
D) The 'accrued interest on notes payable' amount relates only to the one-year short-term notes payable.