Question
On December 1, Martin Company signed a $6,000, 3-month, 8% note payable, with the principal plus interest due on March 1 of the following year.
On December 1, Martin Company signed a $6,000, 3-month, 8% note payable, with the principal plus interest due on March 1 of the following year. What amount of interest expense is accrued at December 31 on the note?
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Data And Analytics In Accounting An Integrated Approach
Authors: Guido Geerts, Ann C. Dzuranin, Margarita Lenk
1st Edition
1119722993, 978-1119722991
