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On October 1, 2025, Fashion Jewelers accepted a 4 month, 14% note for $8,000 in...

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Accounting

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On October 1, 2025, Fashion Jewelers accepted a 4 month, 14% note for $8,000 in settlement of an overdue account receivable. The accounting period ends on December 31. Calculate the accrued interest on the note at December 31 , 2025. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

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