Julie Gilbert Company borrows ($ 88,500) on September 1, 1998, from Sandwich State Bank by signing an
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Julie Gilbert Company borrows \(\$ 88,500\) on September 1, 1998, from Sandwich State Bank by signing an \(\$ 88,500,12 \%\), 1-year note. What is the accrued interest at December 31, 1998?
(a) \(\$ 2,655\)
(c) \(\$ 4,425\)
(b) \(\$ 3,540\)
(d) \(\$ 10,620\)
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Related Book For
Financial Accounting Tools For Business Decision Making
ISBN: 9780471169192
1st Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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