Assuming a 360-day year, when a $20,000, 90-day, 5% interest-bearing note payable matures, total payment will be
a. $21,000
b. $1,000
c. $20,250
d. $250
c
You might also like to view...
Which of the following is a factor considered when a customer is evaluated based on RFM formula?
A) the amount of time passed after the customer's last visit B) the product categories purchased by the customer C) the mode of payment used by the customer D) the location from which the customer has bought goods E) the type of feedback provided by the customer
The null hypothesis for a correlation states that:
A) the population correlation coefficient is equal to zero. B) the population correlation coefficient is +1. C) the population correlation coefficient is -1 D) the population correlation coefficient is ±1. E) the population correlation coefficient is positive.
The typical activities of project oversight cover two dimensions. Project selection and portfolio management are typical activities at the ________ level of project oversight.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements is true?
A. The balance in the retained earnings account in the trial balance will equal the retained earnings balance on the balance sheet only after closing entries have been posted to the general ledger. B. Equal totals in a trial balance guarantees that no errors were made in the recording process. C. Adjusting entries are recorded after the closing entries have been recorded. D. Debits are equal to credits only after closing entries have been recorded.