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TiliK225 [7]
3 years ago
9

On March 1, 2012, Kelly Company lent $3,500 to Tim on a 1-year 6% promissory note. The amount of interest to be accrued on Decem

ber 31 will be:
Business
1 answer:
schepotkina [342]3 years ago
7 0

Answer:

$210

Explanation:

Calculation for what the amount of interest to be accrued on December 31 will be

Using this formula

Accrued interest =Amount lent×Promissory note percentage

Let plug in the formula

Accrued interest=$3,500×6%

Accrued interest=$210

Therefore the amount of interest to be accrued on December 31 will be $210

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