[The Following Information Applies to the Questions Displayed Below

question 98

Multiple Choice

[The following information applies to the questions displayed below.]
On November 1,Year 1,Noble Co.borrowed $80,000 from South Bank and signed a 12%,six-month note payable,all due at maturity.The interest on this loan is stated separately.
-How much interest expense will Noble recognize on this note in Year 2?

• A)$9,600.
• B)$4,800.
• C)$2,400.
• D)$3,200.

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Definitions:

Criminal Law

A body of laws pertaining to crimes and punishment, involving regulations that define conduct prohibited by the government because it threatens and harms public safety and welfare.

Public Law

A branch of law that deals with the relationship between individuals and the government, including administrative law, constitutional law, and criminal law.

Plea Bargain

An agreement in a criminal case between the prosecutor and defendant, wherein the defendant agrees to plead guilty to a lesser charge or to the original criminal charge in return for some concession from the prosecutor.

Burglary

The unlawful entry into a building or other location with the intention to commit theft or any felony.