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.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q20: The Jiminez Company accepted an interest-bearing note
Q23: Compute the maturity value of a 60-day,7
Q43: If the amount of a note is
Q58: Interest Expense is usually classified as a(n)-----------expense
Q62: On October 10, 2011, the Berkeley Company
Q63: On July 5, 2011, the Cowens Company
Q65: The face value of a noninterest-bearing note
Q66: How much interest will accrue on a
Q71: The Interest Income account<br>A) usually has a
Q94: Which of the following statements is not