Multiple Choice
Sielert Corporation borrowed $900,000 from National Bank on May 31, 2013. The three-year, 7% note required annual payments of $342,945 beginning May 31, 2014. Interest expense for the year ended December 31, 2013 was
A) $36,750.
B) $42,000.
C) $63,000.
D) $0.
Correct Answer:
Verified
Correct Answer:
Verified
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