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On October 1, Sheridan Ltd. purchased a $10216, 160-day treasury bill for $9870. Similar treasury bills are trading on the market at arate of 8%

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On October 1, Sheridan Ltd. purchased a $10216, 160-day treasury bill for $9870. Similar treasury bills are trading on the market at arate of 8% annually. Assuming Sheridan has a December 31 year end, the amount accrued as interest revenue on the treasury bill at December 31 is O $358 O $272 O $204. $197

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