On 1 December 2016,Parsons Ltd Sold Machinery to a Customer

Multiple Choice

On 1 December 2016,Parsons Ltd sold machinery to a customer for $25,000.The customer could not pay at the time of sale but agreed to pay 11 months later and signed a 11-month bill at 8% interest.What was the total amount of cash collected by Parsons on the maturity of the bill?

A) $1833.33333
B) $27,000
C) $23,166.6667
D) $26,833.3333