A 60-day, 12% note receivable for $20,000, dated May 20, is discounted at the bank on June 9 at 15%. The proceeds are $20,340
Indicate whether the statement is true or false
False
You might also like to view...
What would David McClelland recommend that a company give an employee with a high need for achievement?
a. a high salary and merit-based bonuses b. frequent breaks c. regular promotions d. complex, difficult work
When sending a claim letter by mail, include all original documents such as invoices, sales slips, catalog descriptions, and repair records
Indicate whether the statement is true or false
To increase the demand for complementary products, the price of a product often is
A. marked up. B. value-subtracted. C. maintained. D. marked down. E. off-priced.
Not knowing whether input data has been accepted by the information system, the user enters the data again, resulting in duplicate event data. The control plan that helps to prevent this error is:
A. key verification B. confirm input acceptance C. check digit D. online prompting