On March 1 . 2012 . Forest Co borrowed cash and signed a 36-month, interest-bearing note on which both the principal and interest are payable on February 28, 2015 . At December 31 . 2014, the liability for accrued interest should be
a. 10 months' interest.
b. 22 months' interest.
c. 34 months' interest.
d. 36 months' interest.
C
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Answer the following statement true (T) or false (F)
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Alberta Simpson purchased a home in a gated community with a swimming pool. Because of the loss of her job, Alberta was unable to make her payments. Unable to sell the home, Alberta walked away from the home and her mortgage. The bank has taken over possession of the home. However, the bank has not arranged for maintenance of the property. The swimming pool has become a breeding ground for
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