Anote payable of $60,000, 90 -day, 8% was issued on November 1, 2020. What in the amount of the accund interet on Decenber 31, 2020 OA S400 OB S600 OC $1200 OD. S800
Anote payable of $60,000, 90 -day, 8% was issued on November 1, 2020. What in the amount of the accund interet on Decenber 31, 2020 OA S400 OB S600 OC $1200 OD. S800
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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![A note payable of $60,000, 90-day, 8% was issued on November 1, 2020. What is the amount of the accrued interest on Deconnber 31, 20207
OA S400
OB. 5600
OC S1200
OD. $800](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02df5ddb-cc4f-4edc-8788-19e70a76e613%2Fc4e70f68-a81a-472a-8796-5a7bab6b9280%2Fvtiy2rc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A note payable of $60,000, 90-day, 8% was issued on November 1, 2020. What is the amount of the accrued interest on Deconnber 31, 20207
OA S400
OB. 5600
OC S1200
OD. $800
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