Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ . Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464

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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Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .
Round your answer to the nearest whole dollar.

a.$1,764
b.$15,141
c.$441
d.$16,464
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