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    Financial and Managerial Accounting Study Set 6
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    Exam 7: Accounts and Notes Receivable
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    A Company Borrowed $1,000 by Signing a Six Month Promissory
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A Company Borrowed $1,000 by Signing a Six Month Promissory

Question 127

Question 127

True/False

A company borrowed $1,000 by signing a six month promissory note at 5% interest. The total amount of interest on this promissory note is $25.

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