A $35,000, Two-Month, 7% Note Payable Was Issued on December

question 33

Multiple Choice

A $35,000, two-month, 7% note payable was issued on December 1, 2015. What is the amount of interest expense recorded in the year 2016?

• A)$402
• B)$204
• C)$408
• D)$202

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Definitions:

Relational Rewards

The benefits one gains from being in a relationship, such as emotional support, companionship, and a sense of belonging.

Jealousy

Reaction to the threat of losing a valued relationship.

Self-Esteem

An individual's subjective evaluation of their worth or value as a person.

Serial Argument

A series of continuing arguments focused on the same issue, which might or might not reach an end point.