On December 31, 20A, Bennett Recorded an Adjusting Entry to Account

question 88

Multiple Choice

On December 31, 20A, Bennett recorded an adjusting entry to account for interest that had accrued on the note. What is the approximate amount of interest expense that would have accrued at December 31, 20A?

• A) $76,200
• B) $96,000
• C) $25,402
• D) $32,000

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Drilling Machine

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A financial agreement between two parties to buy or sell an asset at a predetermined future date and price.

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