59. The 90-day interest bearing note amounting to P50,000 was issued on November 30, 2013. The prevailing interest rate is 12%. The accrued interest as of December 31, 2013 is a. 500 c. 1,500 b. 1,000 d. None

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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59. The 90-day interest bearing note amounting to P50,000 was issued on November 30, 2013. The prevailing
interest rate is 12% The accrued interest as of December 31, 2013 is
500
b. 1,000
c 1,500
a.
d.
None
Transcribed Image Text:59. The 90-day interest bearing note amounting to P50,000 was issued on November 30, 2013. The prevailing interest rate is 12% The accrued interest as of December 31, 2013 is 500 b. 1,000 c 1,500 a. d. None
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