On June 1, 2010, Mays Corp

question 47

Multiple Choice

On June 1, 2010, Mays Corp.loaned Farr $500,000 on a 12% note, payable in five annual instalments of $100,000 beginning January 2, 2011.In connection with this loan, Farr was required to deposit $6,000 in a non-interest-bearing escrow account.The amount held in escrow is to be returned to Farr after all principal and interest payments have been made.Interest on the note is payable on the first day of each month beginning July 1, 2010.Farr made timely payments through November 1, 2010.On January 2, 2011, Mays received payment of the first principal instalment plus all interest due.At December 31, 2010, Mays' interest receivable on the loan to Farr should be

• A)$0.
• B)$5,000.
• C)$10,000.
• D)$15,000.

Recognize the criteria for determining the closeness of evolutionary relationships between species.

Utilize phylogenetic trees to interpret evolutionary relationships and argue scientific points.

Understand the concepts of monophyletic, paraphyletic, and polyphyletic groups in the classification of organisms.

Learn how the fossil record supports the theory of evolution and provides evidence for the transition of traits.