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What amount of interest expense is accrued at December

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Question - On December 1, Watson Enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with Erikson Company. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)

a. $0

b. $80

c. $320

d. $960

e. $160

Reference no: EM132626925

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