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Firewood Company Signed a Three-Year Note Payable for $58,000 at 9

Question 43

Multiple Choice

Firewood Company signed a three-year note payable for $58,000 at 9% annual interest.What is the interest expense for 2016 if the note was signed on 1 August 2016?


A) $2610
B) $15,660
C) $2175
D) $5220

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