1. Goldsteen Corporation obtained a $5,000 loan from a bank on April 1. If the bank charges eight percent interest annually, how much interest will be accrued at December 31? a. $400 c. $275 b. $300 d. $250

Calculate the interest and record the adjusting entry

1. Goldsteen Corporation obtained a $5,000 loan from a bank on April 1. If the bank charges eight percent interest annually, how much interest will be accrued at December 31 ? a. $400 c. $275 b. $300 d. $250