1.The interest charged on a $150,000 note payable, at the rate of 5%, on a 4-month note would be *

$3,000

$2,500

$1,000

$500

2.The interest charged on a $200,000 note payable, at the rate of 8%, on a 90-day note would be *

$1,500

$3,000

$4,000

$12,000

3.On January 1, 2020, Samsung Corporation has 400,000 shares of $3 par value common stock outstanding. On the same date, the corporations board of directors declares a 30% stock dividend to be issue on March 2, 2020. On the declaration date the corporations common stock fair market value is $4. On declaration date the corporation will record: *

Credit Common Stock Dividend Distributable $360,000

Debit Common Stock Dividend Distributable $360,000

Debit Common Stock Dividend Distributable $480,000

Credit Common Stock Dividend Distributable $480,000