In a vertical cooperative advertising agreement, two or more retailers share an advertisement

A limited liability company cannot be abbreviated as LC

Indicate whether the statement is true or false

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