Question
Question 12: On April1, 2013, Maggie bought a new delivery truck for her business. The purchase price of the truck was $34,000. Maggiewrote a check
Question 12:
On April1, 2013, Maggie bought a new delivery truck for her business. The purchase price of the truck was $34,000. Maggiewrote a check for a 20% down payment. The interest rate on the loan is 8% and the loan period is nine months.
How much interest must Maggie record when she pays off the loan on December 31st?
- $1,632
- $2,176
- $2,448
- $2,720
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
