Question: Received and deposited $ 8 , 6 0 0 from City Bank in exchange for a 3 - month, 6 % note. HINT: Record this

Received and deposited $8,600 from City Bank in exchange for a 3-month, 6% note. HINT: Record this transaction as a bank deposit. The account to credit is Notes Payable. How much is the interest for the first month?

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