Saturn, Inc. signed a one-year $24,000 note payable at 8% in
Saturn, Inc. signed a one-year $24,000 note payable at 8% interest on May 1, 2017. How much interest expense must be accrued on May 31, 2017?
A) $1,920
B) $12,800
C) $160
D) $80
ANSWER
C .
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