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A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. $10,000 b. $10,200 c. $200 d. $9,800

A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. $10,000 b. $10,200 c. $200 d. $9,800

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. $10,000 b. $10,200 c. $200 d. $9,800
Transcribed Image Text:A 60-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. $10,000 b. $10,200 c. $200 d. $9,800
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