The interest charged on a $350,000 note payable, at the rate of 6%, on a 60-day note would be Group of answer choices $21,000 $10,500 $5,250 $3,500

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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The interest charged on a $350,000 note payable, at the rate of 6%, on a 60-day note would be

Group of answer choices
$21,000
$10,500
$5,250
$3,500
 
 
 
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