Question: Sea Shell Ltd. made an adjusting entry accruing interest on a note payable for the month of January for $600. The note required 12% per

Sea Shell Ltd. made an adjusting entry accruing interest on a note payable for the month of January for $600. The note required 12% per annum on the principal. The principal amount of the note payable must have been a. $10,800 b. $5,000 c. $7,200 d. $60,000

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