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IXOS Ltd Accepted an Eighteen-Month, $15,000, 8% Note from ECM Corporation

Question 29

Multiple Choice

IXOS Ltd. accepted an eighteen-month, $15,000, 8% note from ECM Corporation on June 1, 2020. The amount of interest to be accrued on December 31, 2020, is:


A) $600
B) $1,200
C) $700
D) $1,800

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