20140.01 35 On September 1, 2024, Daylight Donuts signed a $160,000,8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2025. Daylight Donuts accrued interest for the note on December 31, 2024. Which of the following would be recorded on the payment of the note plus accrued interest at maturity on March 1, 2025? (Do not round your intermediate calculations.) Multiple Choice Interest Expense of $4,267 interest Expense of $2.133 interest Expense of $6,400 Help Interest Payable of $2.133 Save & Exit Submit

20140.01 35 On September 1, 2024, Daylight Donuts signed a $160,000,8%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2025. Daylight Donuts accrued interest for the note on December 31, 2024. Which of the following would be recorded on the payment of the note plus accrued interest at maturity on March 1, 2025? (Do not round your intermediate calculations.) Multiple Choice Interest Expense of $4,267 interest Expense of $2.133 interest Expense of $6,400 Help Interest Payable of $2.133 Save & Exit Submit

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.6AP

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