Accrued interest recorded


On November 1, 20--, a firm accepted a 4-month, 10 percent note for $900 from a customer with an overdue balance. The accrued interest recorded for this note for the year ended December 31, 20--, is (assume a 360 day year)

A) $75

B) $30

C) $15

D) $90

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Accounting Basics: Accrued interest recorded
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