On December 1,Martin Company Signed a $5,000,3-Month,6% Note Payable,with the Principle

question 179

Multiple Choice

On December 1,Martin Company signed a $5,000,3-month,6% note payable,with the principle plus interest due on March 1 of the following year.What amount of interest expense is accrued at December 31 on the note?

• A)$0
• B)$25
• C)$50
• D)$75
• E)$300

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Definitions:

Ingestion

The process of taking food (or other material) into the body.

Digestive Cavity

A hollow chamber within an organism where digestion of food occurs.

Elimination

Ejection of undigested food from the body. Compare with excretion.

Pharynx

The muscular tube that connects the mouth and nasal passages with the esophagus and larynx, playing a key role in both the respiratory and digestive systems.