On October 14, 2012, Fran Co. sold $200,000 of merchandise to Bill Co. Bill gave Fran...
Homework Answers
Answer: $6500
Calculation of Interest
Days in October = 31-14 = 17 days
Days in November = 30 days
Days in December = 31 days
Total Days = 17+30+31 = 78 days
Interest calculation = 200000 x 15% x 78/360 = $6500
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