When an Interest-Bearing Note Matures the Balance in the Notes

question 89

Multiple Choice

When an interest-bearing note matures the balance in the Notes Payable account is

• A) less than the total amount repaid by the borrower.
• B) the difference between the maturity value of the note and the face value of the note.
• C) equal to the total amount repaid by the borrower.
• D) greater than the total amount repaid by the borrower.

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