RAS Corporation Issued a One-Year, 12%, $200,000 Note on August

question 167

Multiple Choice

RAS Corporation issued a one-year, 12%, $200,000 note on August 31, 2010. Interest expense for the year ended December 31, 2010 was

• A) $24,000.
• B) $10,000.
• C) $8,000.
• D) $6,000.

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