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Jupiter, Inc

Question 152

Multiple Choice

Jupiter, Inc. signed a one-year $24,000 note payable at 8% interest on March 1, 2019. How much interest expense must be accrued on May 31, 2019? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)


A) $1,920
B) $720
C) $480
D) $240

Correct Answer:

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