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A $40,000,three-Month,8% Note Payable Was Issued on 1 December 2017

Question 5

Multiple Choice

A $40,000,three-month,8% note payable was issued on 1 December 2017.What is the amount of accrued interest on 31 December 2017?

A) $267
B) $400
C) $428
D) $200

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