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A company receives a 6.2%, 60-day note for $9,65 The total amount of cash due on the maturity date a. $598.30. b. $99.72. c. $9,650.00. d. $9,749.72.

A company receives a 6.2%, 60-day note for $9,65 The total amount of cash due on the maturity date a. $598.30. b. $99.72. c. $9,650.00. d. $9,749.72.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...
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A company receives a 6.2%, 60-day note for $9,65 The total amount of cash due on the maturity date a. $598.30. b. $99.72. c. $9,650.00. d. $9,749.72.
Transcribed Image Text:A company receives a 6.2%, 60-day note for $9,65 The total amount of cash due on the maturity date a. $598.30. b. $99.72. c. $9,650.00. d. $9,749.72.
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