Multiple Choice
ABC Company signed a one- year $12 000 loan payable at 8% interest on 1 November 2013. If ABC only adjusts their accounts once a year, how much interest expense must be accrued on 30 June 2014?
A) $320
B) $640
C) $960
D) $474
Correct Answer:
Verified
Correct Answer:
Verified
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