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2 years ago

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On December 1, a company accepted a $5,000, 4%, 90-day note. How much accrued interest will be recorded as an adjusting entry on

December 31, the end of the accounting period?
a. $166.67
b. $16.67
c. $1.67
d. $0.00; interest is not accrued at year-end

1 answer:

ElenaW [278]2 years ago

3 0

The accrued interest amount at the end of the accounting period is $16.67

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