Jacobsen,Inc.borrowed $500,000 from F&M Bank on June 15 of the current year.The bank required 6% interest.Interest will be paid when the 12-month note becomes due.What amount should be accrued as Interest Payable for the December 31 end of the current year?
A) $13,750
B) $15,000
C) $16,250
D) $30,000
Correct Answer:
Verified
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