A company takes a 6 percent, 90-day promissory note for the sale of product worth $5,000 on
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A company takes a 6 percent, 90-day promissory note for the sale of product worth $5,000 on December 1, 2xxx. At the end of the accounting period on December 31, what would be the interest income accrued?
A. $25 B. $75 C. $300 D. None of the above
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