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    Financial and Managerial Accounting Study Set 6
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    Exam 7: Accounts and Notes Receivable
  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 143

Question 143

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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