Firewood Company Signed a Three-Year Note Payable for $45,000 at 7

question 83

Multiple Choice

Firewood Company signed a three-year note payable for $45,000 at 7% annual interest. What is the interest expense for 2013 if the note was signed on August 1, 2013?

• A)$1,575
• B)$1,313
• C)$9,450
• D)$3,150

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