Question
On October 1, 2017, Ealys Jewelers accepted a 4-month, 11% note for $6,000 in settlement of an overdue account receivable. The accounting period ends on
On October 1, 2017, Ealys Jewelers accepted a 4-month, 11% note for $6,000 in settlement of an overdue account receivable. The accounting period ends on December 31. Calculate the accrued interest on the note at December 31, 2017. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $220
B) $330
C) $165
D) $660
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Advanced Operations Management
Authors: David Loader
2nd Edition
0470026545, 978-0470026540
