Multiple Choice
On October 1, 2015, Ealys Jewellers accepted a 4-month, 12% note for $6,000 in settlement of an overdue account receivable. The company closes its accounts at the year end. Calculate and record the accrued interest on the note at December 31, 2015.
A) $180
B) $160
C) $240
D) $140
Correct Answer:
Verified
Correct Answer:
Verified
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