Sherman Air Charter signed a four-month note payable in the amount of $8,000 on September 1.The note requires interest at an annual rate of 6%.The amount of interest to be accrued at the end of September is

Name: Sherman Air Charter signed a four-month note payable in the amount of $8,000 on September 1.The note requires interest at an annual rate of 6%.The amount of interest to be accrued at the end of September is
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The interest for one month is calculated as: $8,000 * 6% * (1/12) = $40.

Sherman Air Charter Signed a Four-Month Note Payable in the Amount