On May 25, 2020, Amalin Co. sold to Natahal. Co. socks for $45,000 by accepting a note payable. The note payable was for 45 days and carried an 6.5%
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MULTIPLE CHOICE QUESTIONWhatsApp Image 2020-10-25 at 12.56.18 PM.jpeg

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On May 25, 2020, Amalin Co. sold to Natahal. Co. socks for $45,000 by accepting a note payable. The note payable was for 45 days and carried an 6.5% interest. Amalin Co. has June 30, 2020 as fiscal year end. The interest accrued on the note at the fiscal year end is? (Round-up your calculations to 2 decimals) O A. $2, 157.79 O B. $480.82 C. $360.62 O D. $296.51 Click to select your answer. Type here to search W P X hp

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"On January​ 1, 2017, Coco Co. purchased a machine for​ $65,000, and expects to use the machine a total of​ 45,000 hours over the next four years. The residual value on the machine was set at​ $3,000. Coco Co.used the machine​ 32,600 hours in 2017 and ​ 21,500 hours in​ 2018, 15,100 hours in 2019 and​ 9,000 hours in 2020. The accumulated amortization at the end of 2020 fiscal year would​ be: A. ​$65,000 B. ​$62,560 C. ​$62,000 D. ​$45,000"

Subject: Accounting, Business
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