Corricten Company borrows ($ 88,500) on September 1, 2010, from Harrington State Bank by signing an ($

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Corricten Company borrows $\$ 88,500$ on September 1, 2010, from Harrington State Bank by signing an $\$ 88,500,12 \%$, one-year note. What is the accrued interest at December 31, 2010?

(a) $\$ 2,655$.

(c) $\$ 4,425$.

(b) $\$ 3,540$.

(d) $\$ 10,620$.

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Accounting Tools For Business Decision Making

ISBN: 9780470377857

3rd Edition

Authors: Paul D. Kimmel

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Question Posted: May 14, 2024 02:00 AM

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Corricten Company borrows ($ 88,500) on September 1, 2010, from Harrington State Bank by signing an ($

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Accounting Tools For Business Decision Making

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