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51. The business received a 90-day promissory note of P20,000, carrying an interest of 12% per year. The promissory note is dated May 1, 2013 and the Balance Sheet date of the business is June 30, 2013. The accrued interest is a. 200 C. 800 b. 400 d. 1,600

51. The business received a 90-day promissory note of P20,000, carrying an interest of 12% per year. The promissory note is dated May 1, 2013 and the Balance Sheet date of the business is June 30, 2013. The accrued interest is a. 200 C. 800 b. 400 d. 1,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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61. The business received a 90-day promissory note of P20,000, carrying an interest of 12% per year. The promissory note is dated May 1, 2013 and the Balance Sheet date of the business is June 30, 2013. The accrued interest is 200 C. 800 a. b. 400 d. 1,600
Transcribed Image Text:61. The business received a 90-day promissory note of P20,000, carrying an interest of 12% per year. The promissory note is dated May 1, 2013 and the Balance Sheet date of the business is June 30, 2013. The accrued interest is 200 C. 800 a. b. 400 d. 1,600
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