Assuming a 360-day year, when a $12,800, 90-day, 11% interest-bearing note payable matures, the total payment will be O a. $352 Ob. $1,408 Oc. $13,152 Od. $14,208

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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Rahulbhaliya

Assuming a 360-day year, when a $12,800,
90-day, 11% interest-bearing note payable
matures, the total payment will be
a. $352
Ob. $1,408
Oc. $13,152
O d. $14,208
Transcribed Image Text:Assuming a 360-day year, when a $12,800, 90-day, 11% interest-bearing note payable matures, the total payment will be a. $352 Ob. $1,408 Oc. $13,152 O d. $14,208
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