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Is the interest on a 6%, 60 day note for 5,000, 300?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter21: Cash Budgeting (cashbud)

Section: Chapter Questions

Problem 3R: Can the 10,000 note be repaid on May 1? Explain.

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