Ottman Company borrows $88,500 on September 1, 2014, from Farley State Bank by signing an $88,500, 12%,

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Ottman Company borrows $88,500 on September 1, 2014, from Farley State Bank by signing an $88,500, 12%, one-year note. What is the accrued interest at December 31, 2014?

(a) $2,655.

(c) $4,425.

(b) $3,540.

(d) $10,620.

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Accounting Tools For Business Decision Making

ISBN: 9781118771112

5th Edition

Authors: Kimmel, Wetlands, Kieso

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Question Posted: Sep 19, 2024 04:01 AM

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Ottman Company borrows $88,500 on September 1, 2014, from Farley State Bank by signing an $88,500, 12%,

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Accounting Tools For Business Decision Making

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