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Accrued Interest Payable Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on December 31: Use 360 days for
Accrued Interest Payable Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on December 31: Use 360 days for calculations and round the nearest dollar.
Lender | Date of Note | Principal | Interest Rate | (%) | Term |
---|---|---|---|---|---|
Maple | November 21 | $21,000 | 10% | 120 days | |
Wyman | December 13 | 17,000 | 9% | 60 days | |
Nahn | December 19 | 19,000 | 12% | 90 days |
Lender | Accrued Interest |
---|---|
Maple | $Answer
|
Wyman | Answer
|
Nahn | Answer
|
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