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    Exam 9: Accounting for Current Liabilities
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    On November 1,Alan Company Signed a 120-Day,8% Note Payable,with a Face
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On November 1,Alan Company Signed a 120-Day,8% Note Payable,with a Face

Question 147

Question 147

Multiple Choice

On November 1,Alan Company signed a 120-day,8% note payable,with a face value of $9,000.What is the maturity value (principal plus interest) of the note on March 1? (Use 360 days a year.)


A) $9,000
B) $720
C) $9,120
D) $9,720
E) $9,240

Correct Answer:

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