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    College Accounting Study Set 1
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    Exam 16: Notes Payable and Notes Receivable
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    The Amount of Cash Paid at Maturity Date on a $12,000
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The Amount of Cash Paid at Maturity Date on a $12,000

Question 61

Question 61

Multiple Choice

The amount of cash paid at maturity date on a $12,000 face value, 90-day note bearing interest at 10% is


A) $1,200
B) $12,000
C) $300
D) $12,300 12000 x 90/360 x .10 = 300; 12000 + 300 = 12300.

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