Question
15. A firm receives a six month note from a customer. The note has a face amount of $4,000 and an interest rate of nine
15. A firm receives a six month note from a customer. The note has a face amount of $4,000 and an interest rate of nine percent. What is the total amount of interest to be received?
a. $1,080
b. $30
c. $360
d. $180
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
