On October 1,2017,Ealys Jewelers Accepted a 4-Month,14% Note for $7,500

question 127

Multiple Choice

On October 1,2017,Ealys Jewelers accepted a 4-month,14% note for $7,500 in settlement of an overdue account receivable.The accounting period ends on December 31.Calculate the accrued interest on the note at December 31,2017.(Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar. )

• A)$263
• B)$350
• C)$1,050
• D)$525

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