23.Sherman Air Charter signed a six-month note payable in the amount of $24,000 on September 1st The note requires interest at an annual rate of 6%. The amount of interest to be accrued at the end of December is(2 Points)

$240.

$120.

$720.

$360.

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25.Which of the following is an example of an intangible asset?(2 Points)

a&b

Patent

Trademarks

Property, plant, and equipment

..............................................................

24.On April 5th Ahmad Company sells merchandise on account for $12,000 to Hadeel Company with credit terms of 2/10, n/30. On April 7th Hadeel Company returns $1,200 of merchandise that was damaged, on April 14th Hadeel sends a check to settle the account. The entry that Ahmad Company will make upon receipt of the check will be