Al Reem Co. signed an $18,000 six-month note payable on September 1 that bears intérest at a rate of 5%. How much is the total interest to be accrUed on this note at December 31? O a. $300. O b. $900. O c. $75. O d. $450.

Al Reem Co. signed an $18,000 six-month note payable on September 1 that bears intérest at a rate of 5%. How much is the total interest to be accrUed on this note at December 31? O a. $300. O b. $900. O c. $75. O d. $450.

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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Al Reem Co. signed an $18,000 six-month note payable on September 1 that bears intérest at a rate of 5%. How much is the
total interest to be accrued on this note at December 31?
O a. $300.
O b. $900.
O c. $75.
O d. $450.

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