Question
A $10,000, 90-day, 12% note payable was issued on November1, 2019. What is the amount of interest expense recorded in2020? Round to the nearest cent
A $10,000, 90-day, 12% note payable was issued on November1, 2019.
What is the amount of interest expense recorded in2020? Round to the nearest cent as needed.
(Choose the right one)
A.$193.97
B.$98.63
C.$120.00
D.$101.92
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
