Assuming a 360-day year, when a $12,800, 90-day, 11% interest-bearing note payable matures, the total payment will be O a. $352 Ob. $1,408 Oc. $13,152 Od. $14,208
Assuming a 360-day year, when a $12,800, 90-day, 11% interest-bearing note payable matures, the total payment will be O a. $352 Ob. $1,408 Oc. $13,152 Od. $14,208
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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Rahulbhaliya
![Assuming a 360-day year, when a $12,800,
90-day, 11% interest-bearing note payable
matures, the total payment will be
a. $352
Ob. $1,408
Oc. $13,152
O d. $14,208](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F553bc7aa-42b1-42e9-8f85-42eff88fba9c%2Fdef7477c-fcc9-4423-b081-3efd70332521%2F6lk1ow_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assuming a 360-day year, when a $12,800,
90-day, 11% interest-bearing note payable
matures, the total payment will be
a. $352
Ob. $1,408
Oc. $13,152
O d. $14,208
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