A $49,000, three-month, 12% note payable was issued on December 1, 2017. What is the amount of accrued interest on December 31, 2017?
A) $490
B) $708
C) $354
D) $823
A .Interest Expense 490
Interest Payable ($49,000 x 12% x 1/12 ) 490
Business
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