On October 1, 2019, Fashion Jewelers accepted a 4-month, 12% note for $7500 in settlement of an overdue account receivable. The accounting period ends on
On October 1, 2019, Fashion Jewelers accepted a 4-month, 12% note for $7500 in settlement of an overdue account receivable. The accounting period ends on December 31. Calculate the accrued interest on the note at December 31, 2019. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
| a | $450 |
| b | $300 |
| c | $225 |
| d | $900 |
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Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
