Harrison Corporation borrowed $39,000 from F&M Bank on June 1 of the current year. The bank required 8% interest. Interest will be paid when the nine-month note becomes due. What is the interest expense for the subsequent year in which the note is due and paid? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) ○ A. $1,560 OB. $1,820 OC. $520 OD. $2,340
Harrison Corporation borrowed $39,000 from F&M Bank on June 1 of the current year. The bank required 8% interest. Interest will be paid when the nine-month note becomes due. What is the interest expense for the subsequent year in which the note is due and paid? (Do not round intermediate calculations. Only round your final answer to the nearest dollar.) ○ A. $1,560 OB. $1,820 OC. $520 OD. $2,340
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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