On December 31, 2015, the lender on a $5800, 120-day,12% note dated November 5, 2015, will recognize: (Use a 365 day year and round your final answer to the nearest dollar.)
A) interest receivable, $229.
B) interest receivable, $107.
C) interest payable, $229.
D) interest payable, $107.
Correct Answer:
Verified
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