Xi Co Has a Bills Receivable for $3089 Given in Settlement

question 39

Multiple Choice

Xi Co has a bills receivable for $3089 given in settlement of a debt. The value of the bill is made up of principal of $3000 and interest of $89. When the note is paid, at the end of its 90 day term, Xi Co's bank is debited with $ _____ and bills receivable is credited with $3089.

• A) $3000
• B) $3089
• C) $2911
• D) $3200

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Definitions:

Fear

An emotional response to perceived threats or danger, involving physiological, behavioral, and psychological reactions that prepare the body for fight or flight.

Anger

A powerful sense of irritation, dissatisfaction, or aggression.

Social Referencing

The behavior where people observe those around them to determine the appropriate way to act or respond in various scenarios.

Smiling

A facial expression characterized by turning up the corners of the mouth, often indicative of amusement, happiness, or affection.