What amount of interest expense is accrued, Accounting Basics

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What amount of interest expense is accrued

On December 1, Flatron Company signed a $9,000 3-month 9% note payable, with the principal plus interest due on March 1 of the following year. What amount of interest expense is accrued at December 31 on the note? Use a 360-day year for interest calculation. Round your answer to the nearest dollar.

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Accounting Basics: What amount of interest expense is accrued

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Accounting Basics: What amount of interest expense is accrued

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