20140.01 35 On September 1, 2024, Daylight Donuts signed a $160,000,8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2025. Daylight Donuts accrued interest for the note on December 31, 2024. Which of the following would be recorded on the payment of the note plus accrued interest at maturity on March 1, 2025? (Do not round your intermediate calculations.) Multiple Choice Interest Expense of $4,267 interest Expense of $2.133 interest Expense of $6,400 Help Interest Payable of $2.133 Save & Exit Submit
20140.01 35 On September 1, 2024, Daylight Donuts signed a $160,000,8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2025. Daylight Donuts accrued interest for the note on December 31, 2024. Which of the following would be recorded on the payment of the note plus accrued interest at maturity on March 1, 2025? (Do not round your intermediate calculations.) Multiple Choice Interest Expense of $4,267 interest Expense of $2.133 interest Expense of $6,400 Help Interest Payable of $2.133 Save & Exit Submit
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.6AP
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