Multiple Choice
On March 1,2012,Forest Co.borrowed cash and signed a 36-month,interest-bearing note on which both the principal and interest are payable on February 28,2015.At December 31,2014,the liability for accrued interest should be
A) 10 months' interest.
B) 22 months' interest.
C) 34 months' interest.
D) 36 months' interest.
Correct Answer:
Verified
Correct Answer:
Verified
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