On September 1, 2019, a firm accepted a 6-month, 8% note for $36,000 from a customer with an overdue account balance. The accrued interest recorded for this note on December 31, 2019, is?
options
$2,880.00
$960.00
$240.00
No accrual is necessary
Accrued interest recorded for this note on December 31, 2019= $36000*8%*4/12= $960
From September 1, 2019 to December 31, 2019= 4 months
So, the answer is option B) $960.00
On September 1, 2019, a firm accepted a 6-month, 8% note for $36,000 from a customer...
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Wk.4 - Apply: Exercise i Saved Help Save & Exit Submit On September 1, 2019, a firm accepted a 6-month, 6% note for $18,000 from a customer with an overdue account balance. The accrued interest recorded for this note on December 31, 2019, is points Skipped Multiple Choice Mc Graw Hill Education < Prev 9 of 10 Next >
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