Multiple Choice
On November 1, 2014, Chancellor Co.borrowed $80,000 from State Bank and signed a 12%, six-month note payable, all due at maturity.The interest on this loan is stated separately.At December 31, 2014, Chancellor Co.'s overall liability for this loan amounts to:
A) $84,800
B) $80,000
C) $81,600
D) $83,200
Correct Answer:
Verified
Correct Answer:
Verified
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