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On October 14t, 2023, First Corp signed a 7 month 8% note payablo with MidSecond Bank in the amount of $500,000. interest is due at

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On October 14t, 2023, First Corp signed a 7 month 8% note payablo with MidSecond Bank in the amount of $500,000. interest is due at maturity. How much interest erpense is recorded on May 1st,2024 when the bonds mature? $40,000 $10,000 $13,333 $23,333 Clear my selection

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