True/False
Jaspreet Industries accepts a $5,000, 90-day, 5% note receivable from a customer on an overdue Accounts Receivable. The amount due upon maturity is $5,062.50.
Interest = $5,000 × .05 × 90/360 = $62.50
Maturity value = $5,000 + 62.50 = $5,062.50
Correct Answer:
Verified
Correct Answer:
Verified
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