Answered: A company receives a $49,000, 12%,…

A company receives a $49,000, 12%, 60-day note. The maturity value of the note is a. $500,80 b. $49,000 c. $880 d. $49,980

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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Question

A company receives a $49,000, 12%, 60-day note. The maturity value of the note is
a. $500,80
b. $49,000
c. $880
d. $49,980

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