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Lennon Company signed a 12 month, $53,000, 10% note on October 1, 20x1. The amount of interest to be accrued on December 31, 20x1, is:

Lennon Company signed a 12 month, $53,000, 10% note on October 1, 20x1. The amount of interest to be accrued on December 31, 20x1, is: (Round to the nearest dollar.)

A. $2,650

B. $3,092

C. $5,300

D. None of the above

Your answer (A, B, C, or D)

Show your calculation in detail.

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