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​Saturn, Inc. signed a oneminus year $ 12 comma 000 note payable at 8 ​% interest on March​ 1, 2017. How much interest expense must be accrued on May​ 31, 2017?​ (Round any intermediate calculations to
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​Saturn, Inc. signed a oneminus year $ 12 comma 000 note payable at 8 ​% interest on March​ 1, 2017. How much interest expense must be accrued on May​ 31, 2017?​ (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest whole​ number.)

User Ernest Zamelczyk
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Answer:

Interest expense for 12 months = 0.08*12,000=960

March 1 to May 31= 3 months

Interest expense accrued = 960*3/12=240

Step-by-step explanation:

User Bredikhin
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