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Ware Company borrowed $10,000 on September 1, 2021 from the National Bank. Ware agreed to pay interest annually at the rate of 6% per year.

image text in transcribed Ware Company borrowed \$10,000 on September 1, 2021 from the National Bank. Ware agreed to pay interest annually at the rate of 6% per year. The note issued by Ware carried an 18-month term. Based on this information the amount of interest expense appearing on Ware's 2021 income statement would be a. $60. b. $200. c. $150. d. $0

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