37. Jones Co. issues a $10,000, 60-day, 12% note on August 31. The entry to accrued interest on the note on September 30 (30 days later) would include:

a) a credit to Interest Expense for $98.63

b) a credit to Interest Payable for $98.63

c) a debit to Interest Expense for $197.26

d) a credit to Interest Payable for $197.26

44. An amount is invested at 12%, compounded monthly, for 2 years. What number of periods and what rate would be used to find a future value factor from the tables in order to calculate the future value of this investment?

a)8 periods at 3%

b)2 periods at 12%

c)4 periods at 6%

d)24 periods at 1%

51.

When no-par stock is sold with no stated value, the amount to be recorded as legal capital in the Common Stock account would be:

a) true

b) false