Share
Explore BrainMass

Accounting for Martin and Associates

Martin & Associates borrowed $5,000 on April 1, 2003 at 8% interest with both principal and interest due on March 31, 2004. How much should be in the firm's interest payable account at December 31, 2003? (Points: 1)
$300
$400
$0
$333

Solution Summary

A brief calculation for the amount that should be in the firm's interest payable account.

$2.19