Answer with in 1 hour one hour with formulas Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annualinterest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end offour months?A. $2,600B. $7,800C. $137,800D. $132,600

The accrued interest is the interest due for payment but not paid yet by the business yet.

Answered: Marathon Peanuts converts a $130,000…

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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Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600