I need answer ASAP! On July 8, Jones Inc. issued an $89,300, 10%, 120-day...
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Accounting
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On July 8, Jones Inc. issued an $89,300, 10%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 31! Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar. Ca. 5571 Ob. $1,713 Oc. $8,930 Od. 1,142
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