Multiple Choice
On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. What was the total amount of cash collected by Parsons on the maturity of the note?
A) $21,800
B) $21,350
C) $18,650
D) $21,200
Correct Answer:
Verified
Correct Answer:
Verified
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