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    Financial Accounting Information Study Set 1
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    Exam 7: Reporting and Analyzing Receivables
  5. Question
    A Company Borrowed $5,000 by Signing a 3-Month Promissory Note
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A Company Borrowed $5,000 by Signing a 3-Month Promissory Note

Question 55

Question 55

True/False

A company borrowed $5,000 by signing a 3-month promissory note at 10%.The total interest on the note is $500.

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