Question: I provided the answer, but am not sure how to solve it. 0/1 pts Question 10 On June 8, Acme Co. issued an $80,000, 6%,

I provided the answer, but am not sure how to solve it.

0/1 pts Question 10 On June 8, Acme Co. issued an $80,000, 6%, 120-day note payable to Still Co. Assume that the fiscal year of Acme Co.ends June 30. What is the amount of interest expense recognized by Acme in the following (second) year? $1,208.89 $1,200.00 Correct Answer $1,306.67 You Answered $1,600.00 divIncorrect./div

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