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Universal Travel Inc. borrowed $500,000 on November 1, 2016, and signed a 12-month note bearing interest at 6%. Interest
Posted: Wed Jul 06, 2022 6:24 am
by answerhappygod
- Universal Travel Inc Borrowed 500 000 On November 1 2016 And Signed A 12 Month Note Bearing Interest At 6 Interest 1 (24.9 KiB) Viewed 14 times
Universal Travel Inc. borrowed $500,000 on November 1, 2016, and signed a 12-month note bearing interest at 6%. Interest is payable in full at maturity-on October 31, 2017. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2016, in the amount of: O $8,000. O$25,000. O $30,000. O $5,000.