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Nike store signed a four-month note payable in the amount of $30,000 on September 1....

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Accounting

Nike store signed a four-month note payable in the amount of $30,000 on September 1. The note requires interest at an annual rate of 5%. The amount of interest to be accrued at the end of September is:
Select one:
a. $500.
b. $200.
c. $125.
d. $1,500.

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