On September 1, 2017, Bonita Industries issued a note payable to Fidelity Bank in the amount of $2710000, bearing On this date, the bank's prime rate was 10%. The first payment for interest and principal was made on September 1, 2018. At Dece interest at 9%, and payable in three equal annual principal payments of $895000. mber 31, 2018, Bonita should record accrued interest payable of a. $54450. b. $ 80550. c. $181500. d. $ 89500.
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On September 1, 2017, Bonita Industries issued a note payable to Fidelity Bank in the amount of $271...
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