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Amanda [17]
4 years ago
14

​Saturn, Inc. signed a oneminus year $ 12 comma 000 note payable at 8 ​% interest on March​ 1, 2017. How much interest expense m

ust be accrued on May​ 31, 2017?​ (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest whole​ number.)
Business
1 answer:
Ann [662]4 years ago
7 0

Answer:

Interest expense for 12 months = 0.08*12,000=960

March 1 to May 31= 3 months

Interest expense accrued = 960*3/12=240

Explanation:

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