Multiple Choice
Craig borrowed $350,000 on October 1, 2014 and is required to pay $360,000 on March 1, 2015. What amount is the note payable recorded at on October 1, 2014 and how much interest is recognized from October 1 to December 31, 2014?
A) $350,000 and $0.
B) $350,000 and $6,000.
C) $360,000 and $0.
D) $350,000 and $10,000.
Correct Answer:
Verified
Correct Answer:
Verified
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