A 60-Day, 12% Note for $11,000, Dated May 15, Is

question 97

Multiple Choice

A 60-day, 12% note for $11,000, dated May 15, is received from a customer. The principal amount of the note is:

• A)$220.
• B)$11,220.
• C)$10,780.
• D)$11,000.

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