A few days ago
Accounting Help?
A $20,000, 90-day, 8% note payable was issued in November 1, 20X5
What is the amount of the accured interest on December 31, 20X5?
a) $200
b) $800
c) $133
d) $267
I am dying in this class, help me and explain if possible
Top 2 Answers
A few days ago
Favorite Answer
If you use a 360-day year, you get d, $267. Interest = 20000 * .08 * 60 / 360.
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A few days ago
the answers d
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