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Bonita Industries sold $115000 of goods and accepted the customer's $115000 10%, 1-year note in exchange. Assuming 10% approximates the market rate of return, how
Bonita Industries sold $115000 of goods and accepted the customer's $115000 10%, 1-year note in exchange. Assuming 10% approximates the market rate of return, how much interest would be recorded for the year ending December 31 if the sale was made on June 30?
$2875.
$11500.
$5750.
$0.
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