Question: Universal Travel, Incorporated borrowed $ 5 1 5 , 0 0 0 on November 1 , 2 0 2 4 , and signe a twelve

Universal Travel, Incorporated borrowed $515,000 on November 1,2024, and signe a twelve-month note bearing interest at 6%. Principal and interest are payable in fy at maturity on October 31,2025. What is the amount of interest payable that sho be reported by Universal Travel, Incorporated on December 31,2025?
$0
$30,900
$8,900
$5,150
Universal Travel, Incorporated borrowed $ 5 1 5 ,

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