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A $45,000,two-Month,9% Note Payable Was Issued on December 1,2018

Question 106

Multiple Choice

A $45,000,two-month,9% note payable was issued on December 1,2018.What is the amount of interest expense recorded in the year 2019? (Round the final calculation to the nearest dollar.)


A) $4050
B) $338
C) $675
D) $45,675

Correct Answer:

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