This Question 1 pt 1 of 23 0 complete This Test 64 pts possi

This Question: 1 pt 1 of 23 (0 complete) This Test: 64 pts possible Global Enterprises, Inc. sgned a one-year S4 4,000 nole payable at 8% nterest on Apr 1 1 2018 \"Gkoal only adusts ts accounts once a year at year-end, how much nterest expense was accrued on December 31, 2018??Round any itermediate calculations 10 Mo decinal places, and your final answer to the nearest whole number O A $880 OB. $2,933 ??. s3520 O D. $2.640

Solution

Solution

Note Payable: $ 44,000

Interest rate : 8% p.a.

Interest upto 31 Dec 2018 = $ 44,000 x  8% x 9/12) = $ 2,640

Answer: Option D: $ 2,640