menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting Study Set 1
  4. Exam
    Exam 16: Notes Payable and Notes Receivable
  5. Question
    The Amount of Interest That Will Accumulate on an $8,000
Solved

The Amount of Interest That Will Accumulate on an $8,000

Question 38

Question 38

Short Answer

The amount of interest that will accumulate on an $8,000 face value, 30-day note bearing interest at 12 percent is __________________.
8000 x 30/360 x .12 = 80.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q7: Compute the maturity value of a 5-month,

Q19: If the amount due on a note

Q23: When a note payable is-------- , the

Q33: Since notes receivable are negotiable, internal control

Q34: The maturity value of a 60-day note

Q35: The maturity value of a 120-day note

Q37: The maturity value of a 90-day note

Q40: A 2-month note dated January 1, 2010,

Q90: If the proceeds of a note discounted

Q92: A(n)----------is a form of commercial time draft

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines