Multiple Choice
On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)
A) $0
B) $300
C) $225
D) $75
E) $900
Correct Answer:
Verified
Correct Answer:
Verified
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