Multiple Choice
Xi Co has a bills receivable for $3089 given in settlement of a debt. The value of the bill is made up of principal of $3000 and interest of $89. When the note is paid, at the end of its 90 day term, Xi Co's bank is debited with $ _____ and bills receivable is credited with $3089.
A) $3000
B) $3089
C) $2911
D) $3200
Correct Answer:
Verified
Correct Answer:
Verified
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