Question: On September 1 , 2 0 1 9 , Maibritt Equipment signed a 1 2 - month, 9 % interest bearing note payable for $

 On September 1,2019, Maibritt Equipment signed a 12-month, 9% interest bearing

On September 1,2019, Maibritt Equipment signed a 12-month, 9% interest bearing note payable for $200,000.
Assuming Maibritt maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2020 income statement for this note would be:
A) $12,000
) $8,000
C) $18,000
D) $6,000
Assume that Brian earns $72 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject to both FICA taxes. Also, $360 in income taxes and $120 of union dues are withheld.
Brian's net take-home pay should be:
A) $2,179.68
B) $2,400.00
C) $1,920.00
D),$2,216.40
note payable for $200,000. Assuming Maibritt maintains its books on a calendar

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