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2. What is the maturity value of a 120-day, 6 % note for $11,000? A. $11,000 B. $11,200 C. $10,800 D. 10,780 3. What are
2. What is the maturity value of a 120-day, 6 % note for $11,000?
A. $11,000 B. $11,200
C. $10,800 D. 10,780
3. What are the proceeds for a 30 day note discounted at 12%, principle of 90,000?
A. $100,800 B. $90,000
C. $79,200 D. $89,100
4. The method of accounting which writes off uncollectible accounts as they are incurred, on an as-needed basis is called the:
A. Aging of receivables B. Allowance method
C. Direct write-off method D. Trade receivables
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