Multiple Choice
Collier borrowed $175,000 on October 1 and is required to pay $180,000 on March 1.What amount is the note payable recorded at on October 1 and how much interest is recognized from October 1 to December 31?
A) $175,000 and $0.
B) $175,000 and $3,000.
C) $180,000 and $0.
D) $175,000 and $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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