Answer: The correct answer is $59,969
Interest = Principal * rate of Interest * 5/12
Interest = $57,000 * 12.5%* 5/12
Interest = $2,969
Maturity Value = Principal + Interest
Maturity Value = $57,000 + $2,969
Maturity Value = $59,969
Please provide explanation. Question 5 0/3 pts If the interest rate on a note is 12.5%...
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D Question 2 22 pts Samberg Inc. had the following transactions. Dec 31 - Accrued interest on the note. (Round to the nearest whole dollar amount.) Jan. 31 - Received the interest on the note's maturity date Jan. 31 - Received the principal on the note's maturity date. (Round to the nearest whole dollar amount.) Required: Prepare the required journal entries. Use the MSWord link for the table to write your journal entries.
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