Multiple Choice
On April 1, 2016, Meyers Company purchased a bulldozer. Payment, totaling $70,000, is not due until April 1, 2018. Assuming interest at a 12% annual rate, Meyers should debit Machinery on April 1, 2016, in the amount of
A) $70,000.
B) $62,500.
C) $61,600.
D) $55,804.
Correct Answer:
Verified
Correct Answer:
Verified
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