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On November 1, 2019, a firm accepted a 5-month, 10 percent note for $360 from...

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Accounting

On November 1, 2019, a firm accepted a 5-month, 10 percent note for $360 from a customer with an overdue balance. The accrued interest recorded for this note for the year ended December 31, 2019, is

  • $36.

  • $12.

  • $30.

  • $6.

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