Debtor Company borrowed $10,000 on a six-month note payable on November 1 of the current year. The
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Debtor Company borrowed $10,000 on a six-month note payable on November 1 of the current year. The note bears interest at an annual interest rate of 9 percent. What is the amount of accrued interest payable at December 31 of the current year?
a. $900
b. $75
c. $750
d. $150
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Related Book For 
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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