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Yuliya22 [10]
4 years ago
7

» Q-9-1. Accrued Interest Payable Interest accruals are calculated using a 365-day year with the day after the note was made cou

nting as the first day. General ledger account numbers for the journal entry are: A/C #40800 (Interest Expense) and A/C #20900 (Interest Payable). What is the amount of the interest accrual at 12/31?
Business
1 answer:
saveliy_v [14]4 years ago
4 0

Answer: $197.26

Explanation:

$80,000 x 6% x 2yrs = $4,800 x 2yrs = $9,600

$4,800 ÷ 365 = $13.15/day

$13.15 x 15 days = $197.26

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