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1 answer:
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Answer:
Option (A) is correct.
Explanation:
Given that,
On March 1st,
Kalka Company borrowed = $5,000 for a three-month note payable
Annual interest rate = 6 percent
Period = one month
= 5000 × 0.06 × 0.083
= $24.9 or $25
As Kalka Company borrowed $5000 on March 1st and accrued interest expenses on March 31st is $25.