Question
Genuine Parts received a promissory note from a customer on March 1, 2017. The face amount of the note is $8,000; the terms are 90
Genuine Parts received a promissory note from a customer on March 1, 2017. The face amount of the note is $8,000; the terms are 90 days and 9% interest. What amount of interest will Genuine Parts receive when the note is paid?
a.$720
b.$90
c.$60
d.$180
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Internal Auditing: Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
1st Edition
0894131672, 978-0894131677
