Julie Gilbert Company borrows ($ 88,500) on September 1, 1997. from the Sandwich State Bank by signing
Question:
Julie Gilbert Company borrows \(\$ 88,500\) on September 1, 1997. from the Sandwich State Bank by signing an \(\$ 88,50012 \%\), one-year note. What is the accrued interest at December 31, 1997?
a. \(\$ 2,655\).
b. \(\$ 3,540\).
c. \(\$ 4,425\).
d. \(\$ 10,620\).
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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