FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please given correct answer general accounting
Transcribed Image Text:Bright Line Corp. issued a note payable dated November 1, 2023, with a face value of
$15,000, an interest rate of 8%, and a maturity date of May 1, 2024. What is the
interest expense related to this note that should appear on the income statement for
the year ending December 31, 2023?
a. $0
b. $100.00
c. $200.00
d. $300.00
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