Question
On November 1, 2015, The Bagel Factory signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later
On November 1, 2015, The Bagel Factory signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2016. The Bagel Factory should report interest expense related to this note on December 31, 2016, in the amount of:
A. $0.
B. $1,000.
C. $2,000.
D. $3
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
8th Edition
0131810669, 978-0131810662
