The note requires interest at 10 and principal to be paid


Question - Coronado Industries borrowed $396000 on April 1. The note requires interest at 10% and principal to be paid in one year. How much interest is recognized for the period from April 1 to December 31?

A. $39600.

B. $26400.

C. $29700.

D. $0.

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Accounting Basics: The note requires interest at 10 and principal to be paid
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