Question
A 60-day, 12% note for $15,000 dated May 1 is received from a customer on account. Assume 360 days in a year. The maturity value
A 60-day, 12% note for $15,000 dated May 1 is received from a customer on account. Assume 360 days in a year. The maturity value of the note (principal and interest due) is:
- $15,000
- $15,300
- $14,700
- $16,800
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Understanding Financial Accounting A Guide For Non-specialists
Authors: Jimmy Winfield, Mark Graham, Taryn Miller
1st Edition
0198847270, 9780198847274
