On December 1,Watson Enterprises Signed a $24,000,60-Day,4% Note Payable as Replacement

question 183

Multiple Choice

On December 1,Watson Enterprises signed a $24,000,60-day,4% note payable as replacement of an account payable with Erikson Company.What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)

• A)$0
• B)$80
• C)$320
• D)$960
• E)$160

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Definitions:

Entrepreneurial

Characteristics or actions related to the creation, development, and management of a business venture to achieve profit or social goals.

Organizational Change

The process by which organizations transform their structure, strategies, policies, processes, or culture to adapt to internal and external pressures.

Environmental Changes

Alterations in the surrounding physical, chemical, and biological conditions that can affect ecosystems, organisms, and human societies.

Tape-recorded Messages

Audio recordings used for various purposes, including instruction, reminders, or psychological interventions.