Question
Ancient Grains Inc. issued a 4 month note in the amount of $500,000 on October 1, 2021 with an annual rate of 5%. What amount
Ancient Grains Inc. issued a 4 month note in the amount of $500,000 on October 1, 2021 with an annual rate of 5%. What amount of interest has accrued as of December 31, 2020?
Select one:
A. $2,083
B. $6,250
C. $8,333
D. $25,000
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Cornerstones of Financial and Managerial Accounting
Authors: Rich Jones, Mowen, Hansen, Heitger
1st Edition
9780538751292, 324787359, 538751290, 978-0324787351
