Sherman Air Charter Signed a Four-Month Note Payable in the Amount

question 237

Multiple Choice

Sherman Air Charter signed a four-month note payable in the amount of $12,000 on September 1. The note requires interest at an annual rate of 6%. The amount of interest to be accrued at the end of September is

• A) $240.
• B) $60.
• C) $720.
• D) $180.

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