11:10 Today 11:07 AM Edit BUSN 212 TEST#2 Part I True/False 4 points each possible 28 points loaned before the money is advanced to thhe o 2. The amount homowed is qual to the face mont of th note payable brig The amount of money a bornower reccve omhe londer is called thedis The proceeds from discousting 520,000,0-eyabe i 0 5. 6. Paynoll tues are based on the omploye's When a bomower receives the face fdisod noto less the discont,the amount is known as proceeds A current liahility is a dee that is reasonably especied to be pid between 6 months and 18 month 6. Part I1M discounted note payable of $100,000 is a $6,000 $1,500 c 5500 d $3,000 Au-da on July 8, Jones Inc. issued an S80,000,0% 1204" wle the fiscal yeur of Jones nds on July 31. ising the 360-day year, what is the amount o expense recogniand by Jones in the cumest fiscal yar 2" able to Mile Camp a 5700 b. $4,200 .$307 d. $1,400 rate is toomCo..re 6%. Assuming a 360 year, the cash 549,750 $47,000 549,000 551,000 At maturity,asouing a360-day year, the horower will pay 553,000 b. 550,50 550,000 d $49,300