On 1 October 2014, Allen Jewellery Company Accepted a 4-

On 1 October 2014, Allen Jewellery Company accepted a 4- month, 10% bill for $2 400 in settlement of an overdue account receivable. If the company accrues interest at year- end only, how much interest revenue should be accrued on 31 December 2014?

A) $240
B) $60
C) $40
D) $80