Conner Company borrows $185,600 cash on November 1,2010,by signing a 120-day,8% note.What is the total amount of interest expense that Conner will recognize?
A)$4,949
B)$14,848
C)$2,467
D)$0,no interest expense is recognized
E)$1485

Name: Conner Company borrows $185,600 cash on November 1,2010,by signing a 120-day,8% note.What is the total amount of interest expense that Conner will recognize? A)$4,949 B)$14,848 C)$2,467 D)$0,no interest expense is recognized E)$1485
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Question

Quizplus · Accepted Answer

185,600*.08*120/360 = 4,949

Conner Company Borrows $185,600 Cash on November 1,2010,by Signing a 120-Day,8