Question
On May 17, Otay Olive Co. accepted a $5,500, 8%, 90-day note from a customer. On June 11, the note was discounted at 10%. At
On May 17, Otay Olive Co. accepted a $5,500, 8%, 90-day note from a customer. On June 11, the note was discounted at 10%. At maturity date, the note was dishonored and the bank charged a $15 protest fee. The amount that Otay Olive Co. would debit to Notes Receivable Dishonored is a. $5,625.00 b. $5,535.29 c. $5,638.00 d. $5,610.00
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Principles Of Auditing
Authors: A. Pandu
1st Edition
8189630822, 978-8189630829
