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On December 1, Victorla Company signed a 90-day, 7% note payable, with a face value...

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Accounting

On December 1, Victorla Company signed a 90-day, 7% note payable, with a face value of $8,400. What amount of interest expense is accrued at December 31 on the note? Note: Use 360 days a year.
Multiple Choice
$98
$147
$49
$o
$588
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