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A $49,000,three-Month,12% Note Payable Was Issued on December 1,2018

Question 146

Multiple Choice

A $49,000,three-month,12% note payable was issued on December 1,2018.What is the amount of accrued interest on December 31,2018? (Do not round any intermediate calculations,and round your final answer to the nearest dollar.)


A) $490
B) $708
C) $354
D) $823

Correct Answer:

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