Ottman Company borrows ($ 88,500) on September 1,2025 , from Farley State Bank by signing an ($

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Ottman Company borrows $\$ 88,500$ on September 1,2025 , from Farley State Bank by signing an $\$ 88,500,12 \%$, 1-year note. What is the accrued interest at December 31, 2025?

a. $\$ 2,655$.

b. $\$ 3,540$.

c. $\$ 4,425$.

d. $\$ 10,620$.

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Financial Accounting Tools For Business Decision Making

ISBN: 9781119791089

10th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell

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Question Posted: Feb 26, 2024 04:00 AM

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Ottman Company borrows ($ 88,500) on September 1,2025 , from Farley State Bank by signing an ($

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Financial Accounting Tools For Business Decision Making

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