On August 15, 2022, Kinney Industries Signs a $200,000, 8

question 81

Multiple Choice

On August 15, 2022, Kinney Industries signs a $200,000, 8%, twelve-month note payable.Which of the following entries correctly records the accrued interest on December 31, 2022?

• A)Dr Interest Expense $6,000
• Cr Interest Payable $6,000
• B)Dr Interest Expense $5,333.33
• Cr Interest Payable $5,333.33
• C)Dr Interest Expense $16,000
• Cr Interest Payable $16,000
• D)Dr Interest Expense $10,000
• Cr Interest Payable $10,000

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Definitions:

Database Management

Involves the practices and technologies aimed at effectively organizing, storing, managing, and retrieving data in databases.

Untargeted Method

A marketing strategy that does not focus on a specific demographic or audience segment, instead aiming to reach as broad an audience as possible.

Media Cooperation

The partnership or collaborative efforts between different media outlets or between businesses and media outlets for promotional or informative purposes.

Sales Promotion

Marketing activities aimed at increasing consumer demand and stimulating sales for a limited period.