Posted: September 23rd, 2016

Ware Company borrowed $10,000 on September 1, 2007 from the National Bank.

. Ware Company borrowed ,000 on September 1, 2007 from the National Bank. Ware agreed to pay interest annually at the rate of 6% per year. The note issued by Ware carried an 18-month term. Based on this information the amount of interest expense appearing on Ware’s 2007 income statement would be

A. $-0-.
B. $200.
C. $60.
D. $150.