On December 1, a company signed a $6,()()(), 9()-day, 5% note payable, with principal plus interest due

Question:

On December 1, a company signed a $6,()()(), 9()-day, 5% note payable, with principal plus interest due on March 1 of the fol¬ lowing year. What amount of interest expense should be ac¬ crued at December 31 on the note?

a. $300

b. $25

c. $100

d. $75

e. $0

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