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Find what is amount of interest expense recorded in year

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Reference no: EM132731518

Problem 1: Which of the following accounts is credited by the seller when tax is collected on retail sales?

A) Accounts Payable

B) Payroll Tax

C) Sales Tax Payable

D) Unearned Revenue

Problem 2: A $45,000, two-month, 9% note payable was issued on December 1, 2018. What is the amount of interest expense recorded in the year 2019? (Round the final calculation to the nearest dollar.)

A) $4050

B) $338

C) $675

D) $45,675

Reference no: EM132731518

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