Multiple Choice
ABC Company signed a 5- year note payable for $80 000 at 9% annual interest. What is the interest expense for 31 December 2014 if the note was signed on 1 May 2014?
A) $2 400
B) $4 800
C) $7 200
D) $36 000
Correct Answer:
Verified
Correct Answer:
Verified
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