On August 15 2022 Kinney Industries signs a $200000 8% twelve-month note payable.The adjustment to accrue interest on December 31 2022 would increase
A) Interest Expense $6000 Interest Payable $6000
B) Interest Expense $5333.33 Interest Payable $5333.33
C) Interest Expense $16000 Interest Payable $16000
D) Interest Expense $10000 Interest Payable $10000
Correct Answer:
Verified
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