True/False
A company borrowed $10,000 by signing a 180-day promissory note at 5% interest. The total amount of interest is $25.
$10,000 * .05 * 180/360 = $250
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q25: The percent of sales method for estimating
Q69: Giorgio Italian Market bought $4,000 worth of
Q77: Craigmont uses the allowance method to account
Q88: Mullis Company sold merchandise on account to
Q108: A promissory note received from a customer
Q111: A company borrowed $16,000 by signing a
Q114: A company uses the percent of sales
Q117: If a credit card sale is made,
Q118: Mercks accepts the Discovery credit card for
Q120: At December 31, Yarrow Company reports the