On August 1,2013,Ace Corporation Accepted a Note Receivable in Place

question 17

Multiple Choice

On August 1,2013,Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $123,965.The note is due in 90 days and has an interest rate of 8%.What would be the total amount collected at the maturity date?

• A)$123,965.00
• B)$2,479.30
• C)$126,444.30
• D)$121,485.70
• E)$133,882.20

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Definitions:

Productivity Differences

Variations in the efficiency and effectiveness with which firms or economies turn inputs into outputs.

Human-Capital Theory

A concept in economics that views individuals' skills, knowledge, and experience as economic value, suggesting that investments in education and training can enhance productivity and earnings.

Discriminatory Practices

Actions or policies that treat an individual or group unfairly based on certain characteristics, such as race, gender, age, or sexual orientation.

Labor Markets

Marketplaces where employers find workers and workers find jobs, defined by the supply and demand for labor.