Global Enterprises Company Signed a One-Year $48,000 Note Payable at 8

question 108

Multiple Choice

Global Enterprises Company signed a one-year $48,000 note payable at 8% interest on April 1,2018.If Global only adjusts its accounts once a year at year-end,how much interest expense was accrued on December 31,2018? (Round any intermediate calculations to two decimal places,and your final answer to the nearest whole number.)

• A) $960
• B) $3,840
• C) $2,880
• D) $3,200

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