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

question 15

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?

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

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