Multiple Choice
What is the adjustment to Interest Expense on December 31 if Elegant Company (debtor) owes Pristine Company (the holder of the note) a $22,000, 60-day, 10% note on December 12th? (Use a 360-day year. Do not round any intermediate calculations. Round your final answers to the nearest dollar.)
A) $2,200
B) $116
C) $367
D) $61
Correct Answer:
Verified
Correct Answer:
Verified
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