The amount of interest that will accumulate on an $8,000 face value, 30-day note bearing interest at 12 percent is __________________.
8000 x 30/360 x .12 = 80.
Correct Answer:
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Q2: If the proceeds of a discounted note
Q8: Upon payment of the amount due on
Q9: Interest Income is classified as a current
Q11: The face value of a noninterest-bearing note
Q11: Interest Expense usually appears on the income
Q16: The interest on a $5,000 face value,
Q18: The Notes Receivable account usually has a
Q19: Even if an interest-bearing note receivable is
Q19: The amount of cash received at maturity
Q20: The dollar amount shown on a note
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