TB MC Qu. 07-112 Duerr company makes... Duerr Company makes a $60,000, 60-day, 12% cash loan...
TB MC Qu. 07-112 Duerr company makes...
Duerr Company makes a $60,000, 60-day, 12% cash loan to Ryan Co. The note and interest to be collected at maturity is: (Use 360 days a year.)
Multiple Choice
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$60,000.
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$1,200.
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$61,200.
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$58,800.
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$67,200.
Homework Answers
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Interest = 60,000*12%*60/360 = 1200 Total = 60,000 + 1200 = 61,200 Option C is the answer |
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