A company issues a $200,000, 5%, six-year note on January 1, 2021. What amount will be recorded for interest expense for the first month's payment on January 31, 2021?
A) $1,000.00
B) $138.89
C) $833.33
D) $694.44
Answer: C
Accounting MCQ
Accounting
A company issues a $200,000, 5%, six-year note on January 1, 2021. What amount will be recorded for interest expense for the first month's payment on January 31, 2021?
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