A $35,000, two-month, 7% note payable was issued on December 1, 2015. What is the amount of interest expense recorded in the year 2016?
A)$402
B)$204
C)$408
D)$202

Question

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The Answer of A $35,000, two-month, 7% note payable was issued on December 1, 2015. What is the amount of interest expense recorded in the year 2016?
A)$402
B)$204
C)$408
D)$202

A $35,000, Two-Month, 7% Note Payable Was Issued on December