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On September 1, 2012, Daylight Donuts Signed a $100,000, 9

Question 17

Multiple Choice

On September 1, 2012, Daylight Donuts signed a $100,000, 9%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2013. Daylight Donuts should report interest payable at December 31, 2012, in the amount of:


A) $0.
B) $1,500.
C) $3,000.
D) $4,500.

Correct Answer:

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