Multiple Choice
A company borrowed $100,000 on a one-year, 10% note on September 1, with interest and principal to be paid at maturity. How much interest payable will be reported on the balance sheet at November 30?
A) $ 2,500
B) $ 7,500
C) $10,000
D) $ 3,333
Correct Answer:
Verified
Correct Answer:
Verified
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