Multiple Choice
Jupiter,Inc.signed a one-year $44,000 note payable at 8% interest on May 1,2016.If Jupiter,Inc.only adjusts its accounts once a year at year-end,how much interest expense was accrued on December 31,2016?
A) $1,173
B) $3,520
C) $2,347
D) $2,933
Correct Answer:
Verified
Correct Answer:
Verified
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