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Vaughn borrowed $713000 on October 1, 2020 and is required to pay $730000 on March 1, 2021. What amount is the note payable recorded at
Vaughn borrowed $713000 on October 1, 2020 and is required to pay $730000 on March 1, 2021. What amount is the note payable recorded at on October 1, 2020 and how much interest is recognized from October 1 to December 31, 2020?
a. $713000 and $17000.
b. $713000 and $0.
c. $730000 and $0.
d. $713000 and $10200.
Vaughn borrowed $713000 on October 1, 2020 and is required to pay $730000 on March 1, 2021. What amount is the note payable recorded at on October 1, 2020 and how much interest is recognized from October 1 to December 31, 2020?
a. $713000 and $17000.
b. $713000 and $0.
c. $730000 and $0.
d. $713000 and $10200.
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