Multiple Choice
On Oct. 1, 2017, Bianca Inc. signed a 1-year $75,000 note payable from Prime National Bank. The loan plus 4% interest is to be repaid on Sept. 30, 2018. Bianca's year-end is December 31. In its 2017 financial statements Bianca will record interest expense of:
A) $3,375.
B) $750.
C) $250.
D) $1,000.
E) $3,000.
Correct Answer:
Verified
Correct Answer:
Verified
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