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On November 1, Year 1, Honor Inc., borrowed $92,000 from West Bank and signed a 6%, six-month note payable, all due at maturity. The interest
On November 1, Year 1, Honor Inc., borrowed $92,000 from West Bank and signed a 6%, six-month note payable, all due at maturity. The interest on this loan is stated separately. The company has a calendar year-end. How much must pay Honor West Bank on May 1, Year 2, when the note matures? Multiple Choice $92,000 $2,760 $94,760 $97,520 4 2015
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Advanced Financial Accounting
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
5th Edition
0072444126, 978-0072444124
