A ($ 10,000,9)-percent, one-year note payable was issued on July 31. The balance sheet at December 31

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A $\$ 10,000,9$-percent, one-year note payable was issued on July 31.

The balance sheet at December 31 will report interest payable of ( $p .448$ )

a. \$0 because the interest is not yet due

c. $\$ 375$

b. $\$ 300$

d. $\$ 900$

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