13) Goodlad Company makes a $60,000, 60-day, 12% cash loan to Ryan Co. The note and interest to be collected at maturity is: (Use 360 days a 1 year.) A) $60,000 B) $1,200 E) $67,200 C) $61,200 D) $58,800 14) Cost of goods sold: A) Is another term for merchandise sales. B) Is the term used for the expense of buying and preparing merchandise for sale. C) Is another term for revenue. D) Is also called gross margin. E) Is a term only used by service firms