T & H Research borrowed $25,000 on Mar. 8, signing a note due in 60 days at a rate of 8%. On Apr. 20 the company made a partial payment of $5500. Find the amount due at the maturity of the note and the interest paid on the note if there are no further payments until maturity. Use the United States Rule. Click the icon to view the Number of Each Day of the Year table. The amount due at maturity is S (Round to the nearest cent as needed.) The interest paid on the note is $ (Round to the nearest cent as needed.)

T & H Research borrowed $25,000 on Mar. 8, signing a note due in 60 days at a rate of 8%. On Apr. 20 the company made a partial payment of $5500. Find the amount due at the maturity of the note and the interest paid on the note if there are no further payments until maturity. Use the United States Rule. Click the icon to view the Number of Each Day of the Year table. The amount due at maturity is S (Round to the nearest cent as needed.) The interest paid on the note is $ (Round to the nearest cent as needed.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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