a7 On October 1, Sally Sailing Ltd. purchased a $10,000, 150-day treasury bill for $9,756. Similar treasurybills are trading on the market at a rate of 6% annually. Assuming Sally Sailing has a December 31 year end,the amount accrued as interest revenue on the treasury bill at December 31 is Select one: A. $200. B. S146. C. $160. D. $195.

The correct answer is B. $146. Here's how we can calculate the interest revenue: Calculate the…

Answered: On October 1, Sally Sailing Ltd.…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 11E

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On June 8, Williams Company issued an $75,972, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. Oa. $75,972 Ob. $77,491 Oc. $80,530 Od. $4,558 > Other fav t
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