Exhibit 30-2 -Refer to Exhibit 30-2.The Interest and Interest Rate on Loan

question 75

Multiple Choice

Exhibit 30-2

-Refer to Exhibit 30-2.The interest and interest rate on loan 1 are,respectively,

• A) $1,100 and 100 percent.
• B) $1,100 and 10 percent.
• C) 10 percent and $100.
• D) $100 and 10 percent.

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Definitions:

Excess of Par

The amount by which a security's sale or issue price exceeds its par value.

Treasury Shares

Shares released to the public and afterward reclaimed by the issuer, cutting down the overall count of stock available on the open market.

Journalize

The process of recording transactions in an accounting journal.

Par Common Stock

Par Common Stock refers to the nominal or face value assigned to common shares in the corporate charter, which has implications for stock issuance and accounting.