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Guidod S inesscourse.com/platform/mod/quiz/attempt.php?attempt-1706575&page-16; ows Marketplac Ay windows Media windows D Raising cash still tou D 100 Must Read Book DAFC-D cu E Menu And Computi x QUESTION 17 Answer saved Points out of 3.00 P Flag question Accrued Interest Payable Compute the Interest accrued on each of the following notes payable owed by Galloway, Inc, on December 31: Use 360 days for calculations and round the nearest dollar. Lender Date of Note Principal Interest Rate (%) Term Barton December 04 $12,000 Lawson December 13 14,000 Riley December 19 17,000 126 120 days 11% 120days 10% 60 days Lender Accrued Interest Barton Lawson Rilley Previous page Next pa

Explanation / Answer

Calculate accured interest :

Barton = 12000*12%*27/360 = 108

Lawson = 14000*11%*18/360 = 77

Riley = 17000*10%*12/360 = 57

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