Multiple Choice
On October 1,2016,a firm accepted a 4-month,8% note for $12,000 from a customer with an overdue account balance.The accrued interest recorded for this note on December 31,2016,is
A) $960.00.
B) $80.00.
C) $240.00.
D) No accrual is necessary.
Correct Answer:
Verified
Correct Answer:
Verified
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