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Jackson textiles owed 15000 to hwang manufacturing on open account. on Oct 1,2020, hwang agreed to convert Jackson account to a note, payable on November
Jackson textiles owed 15000 to hwang manufacturing on open account. on Oct 1,2020, hwang agreed to convert Jackson account to a note, payable on November 30 with a rate of interest on 8 percent. Jackson financial year ends on on October 31st.
13 of 24 The amount payable by Huang Manufacturing on November 30 equals O A. $15,000 B. $16,200 C. $15,200 Unsure D. $15,100 14 of 24 The interest expense that should be included in the journal entry on November 30 equals O A. $1,200. O B. $100. O C. $200. OD. Zero because the company accounts for interest expense only at the end of the fiscal year. UnsureStep by Step Solution
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