Essay
ABC Company signed a one-year $12,000 note payable at 8% interest on May 1,2012.If ABC only adjusts their accounts once a year at year-end,how much interest expense must be accrued on December 31,2012?
A) $960.
B) $320.
C) $640.
D) $474.
Correct Answer:
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Correct Answer:
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