Answered: A 60-day, 5% note for $10,800, dated…

A 60-day, 5% note for $10,800, dated April 15, is received from a customer on account. The face value of the note is a.$10,890 b.$10,800 c.$540 d.$11,340

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 4.4C

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Question

A 60-day, 5% note for $10,800, dated April 15, is received from a customer on account. The face value of the note is

a.$10,890

b.$10,800

c.$540

d.$11,340

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