A company borrowed $1 million on 1 June 2022 from Bank ABC by giving the bank a 3-month note with interest rate of 6% per annum. What is the interest expense for the year ended 30 June 2022? a. $0 b. $60,000 c. $10,000 d. $5,000

If a company borrows $50,000 at an annual interest rate of 8% for 6 months, what would be the interest expense on the note payable?Question 13Answera.$1,000b.$2,000c.$2,500d.$4,000

Windsor Corporation borrows $100,000 from a bank on November 1, Year 1, by signing a 9 percent, six-month note for the amount borrowed plus accrued interest due six months later on May 1, Year 2. What is the interest expense per month on this note?Multiple Choice$1,200$3,000$750$1,000

company issued a $10,000 note receivable with a stated interest rate of 6% for a term of three months. How much total interest revenue will be recognized on this note receivable?Select answer from the options below$50no interest revenue will be recognized, it is interest expense$150$600

A company borrows money as needed on the first day of the month and repays principal and interest on the last day of the budget period, if cash is available.  For the second quarter of the year, they borrowed $10,000 in April, $8,000 in May and $5,000 in June.  The interest rate is 1% per month.  Assuming enough money is available on June 30th to repay the debt, the total amount of interest due is Blank______.Multiple choice question.$560$230$690

A business receives $210,000 from a bank loan on 1 January 2023. The loan has interest payable of 10% per annum and interest is paid twice a year on 1 July and 1 January, with the first payment due 1 July 2023. What is the interest payable account balance at 30 June 2023?