X corporation borrows cash by signing a $120,000, 7% nine-month note on December 1 with its...
Homework Answers
In the Books Of X corporation
Borrowing Cash= $120000
Interest Rate = 7%
Note Period 9 Month
=(120000*7%)*9/12
=$6300
From the Above Information the he total cash paid for interest (only) at the maturity of the note by Lester will be
a-$6,300
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