ABC Company signed a 5- year note payable for $80 000 at 9% annual interest. What is the interest expense for 31 December 2014 if the note was signed on 1 May 2014?
A)$2 400
B)$4 800
C)$7 200
D)$36 000

Name: ABC Company signed a 5- year note payable for $80 000 at 9% annual interest. What is the interest expense for 31 December 2014 if the note was signed on 1 May 2014? A)$2 400 B)$4 800 C)$7 200 D)$36 000
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The Answer is B

ABC Company Signed a 5- Year Note Payable for $80